Wifo economist: Without new trade agreements, there is a risk of loss of wealth

Wifo economist Harald Oberhofer sees a “very shortened discussion” in Germany about the possible EU free trade agreement with the Mercosur region (Brazil, Argentina, Uruguay, Paraguay). Especially for the Austro industry suffering from the US tariffs, there are opportunities. In addition, perspectives could also be opened for the Austro Agrar sector. Without new trade agreements, in view of the entire world situation, less prosperity in the EU and Austria threatens.

• Mercosur: EU Commission promises farmers more protection for agricultural areas

In the case of market disorders, liberalizations could be exposed to the Mercosur pact – for the time being for two and, if necessary, for another two years. This applies to both economic areas and also for sectors where no quotas are set, Oberhofer explained around various, planned protective clauses as part of the emerging agreement. “This could be more relevant in the Mercosur room in the industrial area and with us in the agricultural area.”

“}”>