Austria is a free and stable democracy with a social market economy. As heir to the Habsburg monarchy’s historic links to eastern and southeastern Europe, Austria sees a role for itself in helping countries in these regions integrate successfully into the European Union. The United States and Austria share many common values and common perspectives, including a support for human rights and the rule of law and a shared vision of peace and freedom for all. The two countries are bound together through myriad people-to-people contacts in business, the arts, scholarship, recreation, and a host of other exchanges.
Bilateral Economic Relations
Austria is a member country of the European Union and World Trade Organization, offering export opportunities for U.S. companies of all sizes, with no significant trade barriers. The country represents a desirable, affluent market for U.S.-made products in Europe. The trade and investment relationship between the U.S. is robust and growing rapidly, creating thousands of new jobs in both countries as a result. Recent Austrian governments have sought to encourage Austria’s reputation as an attractive regional headquarters location through economic reforms and by highlighting Austria’s historical and economic ties to the surrounding region.