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Austria's industry in crisis: Is deindustrialization real?
Sigi Menz criticizes misleading statements about industry in Austria and emphasizes the need for comprehensive strategies for competitiveness.
Austria's industry in crisis: Is deindustrialization real?
There is alarm in the industry in Austria! Sigi Menz, chairman of the federal industry division in the Austrian Chamber of Commerce (WKÖ), describes the latest statements from the Chamber of Labor as “strange”. They emphasized that the industry was looking back on an excellent decade. However, given the bankruptcies in the manufacturing sector and the approaching third year of recession, Menz sees this as grossly misleading. The lower sales prices, high costs and massive requirements are putting particular pressure on the metal technology industry, which has a strong impact on competitiveness. A survey of around 130 companies shows that every second company is already thinking about or actually implementing relocations, mainly to Eastern European countries and the USA. These migrations resulted in over 5,000 jobs being lost in Austria, while new ones were created abroad. Menz warns urgently: “If location policy is not addressed urgently, deindustrialization will become a bitter reality.”
Free trade and new opportunities
At the same time there is also positive news. Austrian industry welcomes the agreement between the EU and the Mercosur states, which represents a strong sign of life for regulated free trade in times of global tensions. Menz highlights that the creation of one of the largest free trade zones in the world brings significant growth opportunities, especially in these challenging times. Austria already has a trade surplus with Mercosur countries such as Argentina, Brazil and Uruguay, with key export sectors being pharmaceuticals, chemicals and machinery. The new agreement will eliminate tariffs on over 90% of goods and enable access to strategically important raw materials. Menz also emphasizes that the agreement also adheres to ecological and social standards in order to take into account the concerns of environmental and climate protectors. “This agreement is a sign of smart international trade policy,” said Menz.