Free trade with Mercosur: Austria's industry cheers new opportunities!

Free trade with Mercosur: Austria's industry cheers new opportunities!

Austrian industry celebrates the recently achieved agreement between the European Union and the Mercosur countries as a strong sign of regular-based free trade. Sigi Menz, chairman of the Federal Signed Industry of the WKÖ, emphasizes that this agreement opens up decisive growth opportunities for numerous industries in times of global tensions and protectionist tendencies. Austria has a significant surplus with the Mercosur countries, which include Argentina, Brazil, Uruguay, Paraguay and Bolivia. The most important export goods include medicines, chemicals, machines and steel products. Over 1000 Austrian companies, including almost two thirds of small and medium -sized companies (SMEs), are already active in these markets. According to ots.at at public procurement markets in South America considerable competitive advantages.

advantages for industry

The trade agreement not only guarantees considerable customs balance, but also includes important obligations in terms of climate protection and social standards. The partner states have to comply with the Paris climate goals, combat illegal slash-grubbing and reforest the rainforest, while Ilo core work standards and high environmental standards are observed. Menz emphasizes that this is a comprehensive compromise that integrates both economic interests and ecological issues. The EU also pursues the goal of further strengthening the company -friendly environment in order to promote the competitiveness of European industry. This is particularly important in the context of rising global competitive conditions. The EU initiatives not only aim to reduce existing trade barriers, but also to create a transparent and coherent rules that promotes growth and internationalization of companies, such as Europa.eu reported.