AUSTRIA wants to function as a bridge between China and Europe, attracting investments from e-commerce to electric automobiles while laying the groundwork for trade over the new Silk Road, according to a top government official.

The Alpine country plans to increase the frequency of business missions to Asia and will present an expanded strategy to boost exports by the end of the year, Economy Minister Margarete Schramboeck said. She took part in a record trade delegation earlier this month that clinched 30 deals worth 1.5 billion euros (US$1.9 billion) with Chinese companies.

“We have the knowledge of eastern European markets and China can open the door to other Asian markets,” said Schramboeck. She and Austrian Chancellor Sebastian Kurz held meetings with executives from Chinese companies including Alibaba Group Holding Ltd., Great Wall Motor and the Industrial and Commercial Bank of China.

Before taking over the European Union’s rotating presidency in July, Austria is signaling it’s ready to buck protectionist trade trends by opening up to countries outside the 28-nation bloc.

Schramboeck, the former chief executive officer of Telekom Austria AG’s A1 unit, criticized moves by the United States to crack down on Chinese imports.

She urged the creation of tax and data-protection rules to support new digital industries in Europe. Together with innovation in artificial intelligence and automated production, that should bring a “re-industrialization” and additional jobs to the continent.

“Nobody ever wins a trade war, even if one side or the other country thinks it can,” Schramboeck said. Direct negotiations will be needed to avert job losses triggered by tariffs, she said.

(SD-Agencies)