Austria expects more infrastructure cooperation with China under B&R Initiative

Schrambock, who had spent 22 years on the IT industry, had also worked with Chinese companies, including Chinese tech giant Huawei. She sees the silk road not only a physical road, but also as a digital one, saying that it is important for both nations to cooperate over e-commerce.

It is important, she said, for digital companies on both sides to work together, and as both countries have high levels of innovations in this field, there are opportunities for cooperation.

There will also be agreements on trade and on e-commerce, and Austrian products can reach Chinese consumers easier, she said.

Around 650 Austrian companies are doing business in China, she said. A total of 30 Austrian companies are expected to sign agreements with Chinese companies that will be worth around 1.5 billion euros ($1.8 billion), according to the minister.

She said her country welcomes investment by Chinese companies. Austria is at the heart of Europe, geographically seen as a bridge between western and eastern European states.

While the two countries differ greatly in size, Schrambock said China, as the world's second-largest economy and Austria's most important trading partner in Asia, has undoubtedly strong prospects for the future.