VIENNA, Nov. 4 (Xinhua) -- Austrian officials and entrepreneurs have voiced hope that the upcoming first China International Import Expo (CIIE) in Shanghai will further boost bilateral economic ties.

Margarete Schrambock, Austria's economy minister, expressed her hope to strengthen existing or create new relationships on this occasion and make the first CIIE a very successful event for both Austria and China.

Christoph Matznetter, vice president of the Austrian Economic Chamber, told Xinhua that the Import Expo offers a special opportunity for Austrian companies to showcase their products and services directly to potential buyers in China.

He said some 14 Austrian companies will present their products and services in the Austrian National Pavilion and another eight companies have their own stand booths.

Austrian exhibitors are mainly from the technology industry, mostly market leaders in their respective fields and including many hidden champions in Austria. Many of them have been doing business in China for many years and have branch offices in China.

Christina Schosser, head of ADVANTAGE AUSTRIA Shanghai said the Chinese economy is developing rapidly with the country expecting to import goods and services worth more than ten trillion U.S. dollars within the next five years, which gives Austrian companies a great opportunity to enter the Chinese market or to expand their activities.