Vienna conference matches U.S. firms with business opportunities in Eastern Europe - 'Conference on Business Opportunities in the Danube Basin' organized by the Commerce Department

Business America, July 29, 1991

Vienna Conference Matches U.S. Firms With Business Opportunities in Eastern Europe

A conference to facilitate contacts between small- and medium-sized U.S. firms and potential business partners in Czechoslovakia, Hungary, Poland, Romania, and Yugoslavia was held last month at the Schwarzenberg Palace in Vienna, Austria. The "Conference on Business Opportunities in the Danube Basin" was sponsored by the American Embassy and the American Chamber of Commerce in Vienna. Some 437 private meetings were prearranged for the 267 participants, and numerous other meetings were arranged by participants during the course of the conference.

Austrian Economics Minister Wolfgang Schuessel opened the conference on June 10. That evening, U.S. Secretary of Commerce Robert Mosbacher spoke to the conference participants, highlighting the geographical location and historical ties that make Austria a starting point for many U.S. business ventures in Eastern or Central Europe. U.S. Ambassador to Austria Roy Huffington pointed out that "the knowledge of the East European markets gained by Austrian firms is very useful for U.S. corporations" and added that, especially for small- and medium-sized U.S. companies, cooperation with an Austrian firm experienced in trading and investing in Eastern Europe can be advantageous.

Teams from each of the five countries, headed by the U.S. Ambassador and composed of industry and government leaders, made presentations at the conference. About 80 percent of the attendees expressed an interest in four targeted industry sectors: energy, environment, industrial modernization, and information technology. Workshops were conducted in each of these fields. A specially developed software program provided by the Vienna World Trade Center cross-matched participant interests and set up schedules of individual appointments.

Based on the high level of interest in the conference, it is expected to be repeated in 1992. There was not space for all companies that wanted to participate this year, and some participants have already asked to preregister for the 1992 conference. Organizers expect to draw upon this year's experience to make the 1992 conference even better. Among the changes anticipated are larger quarters to accommodate the heavy turnout and private appointments more focused on industry subsectors.

For further information on next year's conference or on doing business in Austria, contact Phil Combs, Austria Desk Officer, HCHB-3043, U.S. Department of Commerce, Washington, D.C. 20230, tel. (202) 377-2920.

PHOTO : A view of the conference in session. In the front row, U.S. Ambassador to Yugoslavia Warren Zimmerman, U.S. Ambassador to Hungary Charles Thomas, and Edwin Kiefer, President of the American Chamber of Commerce in Vienna.