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The Indian government and the Austrian federal government, which wishes to establish and extend direct trade relations between their respective countries, have agreed that the quantity or value of a position mentioned in the “A” and “B” schemes can be modified or added by an agreement between the contracting parties created in a joint manner through a commission (“Commission”). This committee, composed of representative6 of the two governments, will meet whenever the contracting parties have agreed to it and propose measures to promote and extend trade relations between the two countries. Austria imports more goods than it exports, $193.7 billion compared to $184.8 billion in 2018 (WTO data), but its current account has been in surplus since 2002 and will improve further thanks to services exports, which amounted to $73.6 billion, while imports amounted to $61.5 billion. In 2018, imports of goods and services accounted for 52% of GDP, while exports of goods and services accounted for 55.8% of GDP. According to OECD data, imports of goods reached $170.1 billion between January and November 2019 and exports amounted to $164.3 billion, representing a deficit balance of $5.8 billion. However, services exports are less volatile than exports of goods and therefore have a stabilizing effect on Austrian foreign trade. The outlook for Austrian exports is rather optimistic, thanks in part to the improved economic situation of several trading partners. Increased trade is creating more Australian jobs and providing more opportunities for Australian businesses. Learn how to take advantage of free trade agreements. Read more…
In the context of these trade negotiations, I have repeatedly and forcefully expressed the Austrian Federal Government`s desire to grant a quota for the importation of Austrian embroidery. It is with great regret that I have had to note that the Indian government is currently unable to meet this demand, since the importation of this property is totally prohibited. Austrade strongly recommends confirming them before the sale to Austria. As part of our discussions on the extension of the trade agreement between the Austrian federal government and the Indian government of 9 December 1952, which we had in Geneva in the month of January to March 1955, the following agreement was reached: during our discussions on the renewal of the trade agreement between Austria and India, I had asked Austria to liberalise the import liberalisation that Austria had allocated to imports. All right. The O.E.E.C. I pointed out that India, member of the Sterling region, makes its trade with Austria the EU in the same way as Austria`s trade with the United Kingdom and its dependent enterprises, which already benefit from the libralisation, and a number of other O.E. members.C.
imports from India, a treatment similar to that of imports from OM countries. C E. For these reasons, I expressed the hope that your government would be able to comply with this request. I have the honour of referring to our recent discussions on trade between Austria and India and to declare that it was agreed by mutual agreement that the trade agreement between the Austrian Federal Government and the Indian Government of 9 December 1952 was amended by an exchange of letters between representatives of the Austrian and Indian governments in Geneva. March 8, 1955 for a new period until December 31, 1955. As part of the ongoing trade negotiations, I took the opportunity to draw attention to Austria`s particular interest in the supply of electrical equipment, machinery and equipment as well as costumes to India.