Our relationship is a mandat
Supply chains that last, trade volumes that increase, investments that grow – the balance of economic relations between the USA and Austria in the past crisis years is impressive. After Germany and Italy, the United States are the third most important target market for Austrian companies: Goods worth 11.1 billion euros are exported from our Alpine republic to the USA. That is 6.7 percent of total exports. The key data are not only impressive, but the development is also incredibly consistent despite all the crises: There is hardly any fluctuation to be seen, and the positive balance continues steadily – apparently come what may.
The reason: We are more than just trading partners, we are a community of values, we have a common history. Reliability, respect and appreciation have kept us going strong through the crises. Looking east, we can see how important shared values and the importance of democracy and the rule of law are for stable economic relations. Therefore, our transatlantic relationship is not just a cause for celebration, it is a mandate. A mandate to nurture and strengthen this relationship: not only with networking and knowledge sharing, but also with genuine free trade. We need a free trade agreement, not bureaucratic and legal hurdles. We need to support this flourishing cooperation, not hinder it. And we need to level the playing field – Cloud Act vs. GDPR creates exactly this imbalance. It makes everything possible on one side and everything impossible on the other. We need a bit more „living the dream“ in Austria.