The article is devoted to an analysis of the Austrian-Czech economic relations after the Czech Republic’s accession to theEU.  The  author  evaluates  positions  of  Austria  and  the  Czech  Republic  in  each other’s foreign trade sector with the consideration of trade’s dynamic and sectoral structure’s transformation. The conclusion is drawn on the weakening of Austria’s positions inCzech foreign trade and on Czech stable role as one of Austria’s main partners in Central and Eastern Europe amid the long-term positive dynamics of mutual trade. Special attention is paid to the Austrian-Czech investment relations: trends of accumulated FDI and the transformation of FDI’s sectoral structure are evaluated; the inequality of the partner countries is sub-stantiated. The characteristic of Austrian capital’s presence in the Czech Republic is given not only in terms of  general  trends,  but  also  in  case  of  individual  companies  in  industry  and  services.  The  author  reveals  the limitations of Czech FDI in Austria and their instability. The article points to the preservation of differences in positions of Austria and the Czech Republic in trade and investment sectors of the partner countries; their causes are indicated.