emirates7 - Beate Meinl-Reisinger, Minister of Foreign Affairs of Austria, has called for building bridges of cooperation and viewing the European Union’s free trade agreement with the Southern Common Market countries “Mercosur” as a great opportunity for Austria and Europe.

She announced her support for the free movement of trade and urged the ruling coalition in Austria to approve the EU–Mercosur trade agreement, which establishes the largest free trade area comprising about 700 million people.

The minister said that Austria and Europe must increasingly focus on regions that offer opportunities for economic and security cooperation.

The latest report issued by the Austrian Federal Economic Chamber confirmed that Austria’s economy is expected to benefit greatly, noting that European exports to Mercosur countries currently secure about 32,000 jobs in Austria.

The study expects the creation of about 2,000 new industrial jobs and an increase in value added in the industrial sector by about

300 million euros after the agreement enters into force, with Austrian companies benefiting from the elimination of more than 90 percent of customs duties and the simplification of procedures.