IV Welcomes the Provisional Application of the EU-Mercosur Agreement

The Federation of Austrian Industries (IV) welcomes the provisional application of the trade agreement between the EU and the Mercosur countries as of May 1 as an important signal for Europe’s economic and geopolitical position. “The elimination of tariffs, clearer rules for trade and investment, and improved market access strengthen the position of export-oriented industry in Austria and Europe,” explains IV Secretary General Christoph Neumayer. Analyses show that this could create up to 2,000 additional industrial jobs in Austria and increase industrial value added by up to 300 million euros.

In light of ongoing economic uncertainties and increasing geopolitical tensions, the IV underscores the importance of new markets and rules-based global trade. “Anyone who wants to succeed in international competition needs reliable framework conditions and access to dynamic markets. The provisional application of the Mercosur Agreement is an important step toward securing Europe’s economic strength and creating new growth momentum,” says Neumayer.