Her Excellency, Mrs. Ulla Krauss-Nussbaumer, Ambassador of Austria in Romania: „we are the second largest foreign investor in Romania, with a total value of 14.3 billion euro”

Strengthening Bilateral Economic Cooperation.

To begin with, my mission is firmly centered on deepening the already excellent bilateral economic cooperation.

Building New Partnerships Between Austria and Romania.

We as Austrian Embassy Bucharest together with Advantage Austria as the foreign arm of the Austrian Chamber of Commerce continuously work on encouraging further exchange by bringing together key economic as well as political stakeholders from both Romania and Austria in order to kick-off new potential partnerships. Therefore, one vital aspect for us is regularly analyzing the situation in the Romanian market in order to have an understanding of its needs as well as potentials.

As Austrian Embassy we mainly focus on potential cooperation in relation with projects of the Romanian state, while Advantage Austria also deals with fundamental market opportunities. It is needless to say that each and every sector receives our support where needed.

Supporting Green and Digital Transitions.

Yet one center piece of our work is to support the twin green and digital transition in both our economies through the exchange of best practices and technology transfer, particularly in energy, environmental technology, and digitalisation.

Fostering Dialogue and Mutual Understanding.

Another cornerstone of our work is the mediation between Austrian and Romanian stakeholders. Here, we try to encourage closer cooperation to improve the exchange of information and to foster a better understanding of the situation on both sides.

Misunderstandings and crossed signals are the main causes for friction and losses, as Embassy, our main goal is to minimise them, and to provide better mutual understanding and transparency.

Shared European Vision and Economic Integration.

In my opinion, the foundation for growing trade relations lies in our shared European perspective and the increasing integration of our economies, with the internal market at its heart. Key common directions for growth include the further integration of supply chains, leveraging Romania’s strategic position and skilled workforce, especially in the automotive and manufacturing sectors, which already see high levels of bilateral trade.

Opportunities in Energy and Digital Transformation.

A significant area of mutual benefit is the energy transition, where Austrian expertise in renewable energy, energy efficiency, and modern infrastructure development can meet Romania’s ambitious goals.

Furthermore, the digital economy and the expansion of high-quality services, including financial services, IT, and advanced business services, offer significant avenues for both Austrian exports to Romania and Romanian exports to Austria, thereby fostering an increasingly sophisticated trade structure.

Expanding Trade and Cross-Border Business Growth.

Generally speaking, there is still a lot of room for more exchanges and better integration of our economic activities. One positive sign is that Romanian companies venture more and more abroad, expanding their presence and their exports. Austria would be a very good base for their international activities, both as a market and as a hub for the German speaking countries, Central and Eastern Europe. Romania has excellent prospects as a hub for the Black Sea region, and of course Romania is an interesting market by itself.

Rising Interest in Renewable Energy Investments.

The most asked-after field at the moment is renewable energy. Each and every year, we see an increased number of declarations of interest and projects in the pipeline.

We are happy to see that our ambitious climate goals translate directly into action of the private sector, without which our plans would not be possible to implement. Another attractive field is the modernization and extension of existing industrial production plants, where previous Austrian investments are upgraded.

Strong Industrial, Manufacturing and Service Links.

Concerning the exchanges of products and services, we see continuous strong interest in the industrial and manufacturing sectors, as well as in advanced services, including banking, insurance, and real estate development.

As expected, the almost constant increase in trade is leading to increasingly interconnected supply chains between our countries, including a strong intra-company exchange of parts and services. Since they have become quite popular in Austria, I want to mention Romania’s Dacia cars as a positive example of our increased trade.

Tourism and People-to-People Connections.

On the service side, tourism plays a major role. The development of Romanian guests staying in Austria is very satisfactory. From January to August 2025, arrivals rose to approximately 260,000, which is a plus of 4.5%. Overnight stays reached around 760,000, a plus of 5.5%.

As embassy, and on a personal level, my Austrian colleagues and I regularly invite friends and family from Austria to Romania, in order for them to see the beauty of this country and its rich touristic offerings, supporting tourism also the other way.

Romanian Workforce as a Pillar of Austrian Care Sector.

But there is another aspect I want to highlight since it has become a vital backbone of Austria’s social system, namely Romanians, mostly women, working in the field of assisted living in Austria. We are both happy and thankful that so many Romanians chose Austria as a workplace in this field. Without them, we would not be able to guarantee this high standard.

Long-Term Austrian Investment Commitment in Romania.

EUR 14,3 billion, making Austria the second biggest foreign investor. Austrian companies invested early on after 1989, when Romanian assets were still perceived as high-risk investments due to the uncertain outlook for the future of the country, which was not yet a member of the EU. Many Austrian companies have also reinvested heavily in growth and amelioration of their industrial tool, instead of repatriating profits. However, these reinvestments are not counted in official investment figures.