Soon, Austria would celebrate its 100 years relationship with Lagos, therefore Nigeria. This relationship has grown from strength from strength culminating in increased trade volume and greater ties between both nations. 2007 was indeed a remarkable year as trade volume soared and more Austrian companies seek investment in Nigeria.

1. NIGERIA BECOMES AUSTRIA’S LEADING TRADING PARTNER IN AFRICA
Nigeria has emerged as Austria’s leading trading partner in Africa.
According to the Commercial Counsellor, Dr. Albrecht Zimburg, Austria
recorded over 70% increase in export to Nigeria up till the last quarter of
2007.
Achieving this feat took the joint efforts of the Austrian Embassy through its
indefatigable Commercial Counsellor, Dr. Zimburg and the Austrian
Government during its tenure as the President of the EU, 2006. During this
period, the Austrian Government mobilised the EU machinery to inform
and educate its business community to engage in doing business in
Nigeria and Africa, with a newsletter, Go Africa to boot.
On the part of the Commercial Counsellor with an office in Lagos, its task
is Herculean for the fact that he has over fifteen African countries under
his jurisdiction. It is therefore worthy of note that despite this busy schedule,
momentum at promoting Nigeria-Austria business has been sustained.
Part of the Counsellor’s responsibilities include creating awareness through
the various chambers of commerce in Austria, participation in trade fairs,
partnering with local companies by establishing ‘initial contact’ with
Austrian Companies, qualifying companies, assisting with translations,
mediating where necessary, encouraging open communication and
facilitating visits to break cultural barriers.
These were necessary considering the fact that Nigeria has a bad press
and every business is considered a scam until proven otherwise. Further,
there was the need for policy change in Austria on its relationship with the
most populous country in Africa, therefore a major market for Austrian
products and services. These products include consumer items such as
energy drinks, machinery, extruding equipment, gas generators and
services including aviation technology, medical technology, hydropower
and construction amongst others.
Small wonder therefore that Austria’s export to Nigeria hit 150 million Euros
in 2007 as against 93 million Euros in 2006. It should be noted that for the
first time in many years, the trade balance between both countries was
even…usually, a huge surplus for Nigeria because of oil purchase.
Austrian companies are expected to play significant roles in the Nigerian
economy particularly in the areas of renewable energy, construction of
quick fix bridges, airport towers, medical technology and engagement in
financial services as foreign direct investors. Further, as the tourism sector

2. develops, stakeholders would benefit immensely from Vienna experience
as Austria’s cultural and convention city.
Some of the ways Nigeria-Austria tie can be further strengthened include:
a. Set up of a bilateral chamber of commerce or trade association
b. Encouragement of trade visits, fairs and exhibitions
c. Establishment of twin cities to facilitate cultural exchange
d. Encouragement of the learning of German language in Nigeria
e. Identification of areas of comparative advantage and the support
of its development.
f. Encouragement of more Austrians to visit Oshogbo Shrine in Osun
State (and other parts of Nigeria) as a means to opening the
tourism gateway to Nigeria, which would eventually translate to
more business as cultural barriers collapse.