Hong Kong ─ Austria

The bilateral relationship between Hong Kong and Austria continues to grow. Total trade between the two economies amounted to EUR 1.23 billion in 2023. Hong Kong also played a significant role in the trade between Austria and the Mainland of China. In 2023, around 7.8% or EUR 944 million of the total merchandise trade between Austria and the Mainland routed through Hong Kong.

• 10th place
  HK's trading partner in the EU
  (2023)
• EUR 1.23 billion
  Bilateral trade volume
  (2023)
• 10th place
  Austria's trading partner in Asia
  (2023)

In 2023, Hong Kong’s main exports to Austria were jewellery (53.9%), measuring, checking, analysing & controlling instruments & apparatus (31.6%) and copper (10.3%). Hong Kong’s main imports from Austria were works of art, collectors' pieces and antiques (33%), telecommunications equipment & parts (13.6%) and semi-conductors, electronic valves & tubes, etc. (10.2%).

In May 2016, Hong Kong and Austria signed a Memorandum of Understanding (MOU) on the cooperation in technology start-up ecosystems. Under the MOU, Hong Kong and Austria will strengthen the co-operation between technology start-ups, incubators, early-stage investors like business angels and venture capital funds, start-up promotion agencies and spin-off centres of both places by facilitating the networking of all target groups and providing relevant information for them. In March 2015, Hong Kong and Austria signed a MOU on Cultural Co-operation. The MOU provides a framework for promoting collaborative initiatives and exchanges in the fields of culture and the arts between the peoples of Austria and Hong Kong.

Since March 2, 2015, a bilateral Working Holiday Scheme for young people of the two economies has been in force, allowing 100 participants per year from each side to stay for up to twelve months in Austria or Hong Kong for holidaying and taking up short-term employment to finance their stay.

In May 2010, Hong Kong and Austria signed an agreement on the Avoidance of Double Taxation (CDTA). The CDTA would eliminate instances of double taxation encountered by Hong Kong and investors from Austria, and bring about tax savings and certainty in tax liabilities in connection with cross-border economic activities.

Closer ties are also underscored by high-ranking bilateral visits. In May 2024, Ghada Fathi, Executive Director of the United Nations (UN) Office on Drugs and Crime and Director-General of the UN office at Vienna led a delegation to attend the 8th Independent Commission Against Corruption (ICAC) Symposium and met with Chief Executive John Lee in Hong Kong. Ms Barbara Salaun, Managing Director of the World Culture Team of Austria, visited Hong Kong in October 2019. Mr Volker Schaffler, Programme Manager at the Austrian Federal Ministry for Transport, Innovation and Technology, visited Hong Kong in January 2019. Mr Harald Gründl, Co-founder and Managing Partner of EOOS Design Studio and Founder and Director of the Institute of Design Research Vienna, visited Hong Kong during October – November 2018. In August 2018, the Chief Executive, Mrs Carrie Lam, welcomed the Federal Chancellor of Austria, Mr Sebastian Kurz, and his delegation to Hong Kong. Mrs Lam introduced Mr Kurz to Hong Kong's latest developments and expressed hope that this visit will further promote co-operation and exchanges between the two places. In February 2018, Dr Harald Mahrer, President, Österreichischer Wirtschaftsbund, visited Hong Kong and attended the StartmeupHK Festival 2018. In January 2018, Jürgen Roth, Vice President of the Austrian Federal Economic Chamber (WKÖ), and Rafael Rasinger, Head of Startups and New Corporates of Advantage Austria, visited Hong Kong. In June 2017, Dr Sophie Karmasin, Federal Minister for Families and Youth of Austria, met with the Secretary for Home Affairs, Mr Lau Kong-wah, in Hong Kong.

From Hong Kong, the Deputy Secretary for Justice, Mr Cheung Kwok-kwan, visited Vienna in March 2023 to foster the cooperation with the United Nations Commission on International Trade Law (UNCITRAL) and to promote Hong Kong as a talent hub for international law. The Secretary for Justice, Ms Teresa Cheng, visited Vienna in April 2019 to attend the 26th Vis Moot as the Chief Judge on the Panel for the Final. Secretary Cheng took the opportunity of this visit to meet with Austrian counterparts to promote the strengths of Hong Kong’s legal services and to seek collaboration with Austria on this front. The Secretary for Justice, Mr Rimsky Yuen, SC, visited Vienna in July 2017 to attend a congress hosted by the United Nations Commission on International Trade Law. The Secretary for Home Affairs, Mr Lau Kong-wah, visited Vienna in May 2017 to foster the exchange and co-operation on arts and culture between Hong Kong and Austria. The Secretary for Innovation and Technology, Mr Nicholas W Yang, paid a visit to Vienna in May 2016 to foster collaboration on smart city development and start-up ecosystems between Hong Kong and Austria.