Salzburg’s economy depends on success in foreign trade, so a large part of the gross value added is generated on international markets with products and services “Made in Salzburg”. With consistently two-digit growth rates, Austria’s federal states were able to score points in foreign trade in the previous year. Salzburg achieved an increase of 13.7% in exports. “However, it can be assumed that the dynamic development will weaken again today and in 2023,” emphasizes Mag. Thomas Albrecht, head of the WKS department for trade policy and foreign trade.
A portrait of 20 local markets
Nearby markets notice themselves as important stabilizers, especially in times. They offer exciting business opportunities and can strengthen resilience and diversify supply chains.
“Nearby markets make an indispensable contribution to the sustainable development of our economy. The export potential of the markets in Southeastern and Central Europe offers Salzburg’s companies a wide range of opportunities. A wealth of future industries can still be developed,” says Albrecht.
For example, economic relations between Salzburg and the Czech Republic, Poland and Hungary have developed well above average. The western Balkan states have also turned out to be important sales and procurement markets for Salzburg’s companies. Austria has close economic ties with all of the Western Balkans’ candidate countries and is one of the largest investors in the region. In Bosnia-Herzegovina Austria even occupies first place and in Serbia and North Macedonia second place.
Entrepreneurs can stock up on current business and market information at the Business Delegates’ Consultation Day on November 10th. From 9.40 a.m., twelve business delegates, who look after 20 partner countries in south-eastern and central Europe, will be available for consultations. Information is available on the following: Albania, Bosnia and Herzegovina, Bulgaria, Estonia, Greece, Kosovo, Croatia, Latvia, Lithuania, Moldova, Montenegro, North Macedonia, Poland, Romania, Serbia, Slovakia, Slovenia, the Czech Republic, Hungary and Cyprus.
“The Czech Republic has the most production-intensive economy in all of Europe with the key sectors of automotive, mechanical engineering, electrical engineering and aviation. The country wants more development competence and away from the image of the extended workbench. This offers special opportunities in industrial automation, robotics, digitization, electromobility and e-commerce solutions,” says Mag. Roman Rauch, economic delegate in Prague.
Advice on many topics
If goods are exported or imported into the customs area of the EU, they must be declared to customs. Depending on the business case, duties can be saved by using different customs procedures. In order to increase competitive advantages in international trade, it is necessary to use all legally compliant instruments for reducing tariffs. SO that the movement of goods runs smoothly, it is important that the correct and, above all, complete shipping documents are available. “In practice, missing accompanying documents lead to unnecessary delays in delivery and, as a result, to costs,” warns authorized officer Thomas Renzl, customs manager at Lagermax Logistics Austria GmbH.
Help with export financing
The Oesterreichische Kontrollbank Aktiengesellschaft (OeKB) will also be present at the Business Delegate Day. This supports Salzburg companies in securing and financing their foreign activities. Experts from Innovation Salzburg GmbH provide information on business and innovation funding and representatives from Salzburg Airport GmbH provide information on all flight connections in the regions of Southeast and Central Europe. There is also information on the numerous direct grants from the internationalization offensive “become international”actively supports domestic companies in their foreign activities.