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WKO: Importance of Trade Agreements
The chairman of the Federal Board for Foreign Trade in the Austrian Federal Economic Chamber (WKO), Karl Pisec, underlines the importance of international trade agreements for the European Union as well as for Austria. As an example to show benefits of trade agreements, he uses the EU's agreement with the Mercosur states and the Regional Comprehensive Economic Partnership in Asia.
Worldwide trade is a given in times of globalization and international trade agreements. According to the WKO, the benefits outweigh any negative consequences. / Picture: © Wikimedia Commons / NASA/Apollo 17 crew; taken by either Harrison Schmitt or Ron Evans [Public Domain]
In a statement by Karl Pisec, chairman of the Federal Board for Foreign Trade in the Austrian Federal Economic Chamber (WKO), the expert points out the importance of trade agreements for the entire European Union and thus also for Austria.
He cites the EU's association agreement with the Mercosur states of Brazil, Argentina, Uruguay and Paraguay, which took 20 years to negotiate and will provide access to 260 million additional consumers. …
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