# Austria’s economy minister urged the European Union to accelerate free-trade talks with the United Arab Emirates.

*business · news · 2026-05-20 · Bloomberg*

## Key points

- Austria's economy minister called for faster EU free-trade talks with the United Arab Emirates.
- State-owned chemical firms from Austria and UAE recently completed a merger exceeding $60 billion.
- EU-UAE free-trade negotiations have seen little visible progress after a year and six rounds.
- Austria warned the EU may lose investment and exports as Gulf states' influence increases.

Austria’s economy minister urged the European Union to accelerate free-trade talks with the United Arab Emirates, after state-owned chemical companies in both nations recently completed a merger worth more than $60 billion. Speaking at a business gathering on the outskirts of Vienna on Wednesday, Economy and Energy Minister Wolfgang Hattmannsdorfer said negotiations between Brussels and the UAE have made little visible progress after a year of discussions and six negotiating rounds. Europe risks missing investment and export opportunities as Gulf states gain geopolitical and economic influence, he said.

**Countries:** Austria, United Arab Emirates

[Read the full story on Bloomberg](https://www.bloomberg.com/news/articles/2026-05-20/austria-urges-faster-eu-uae-trade-talks-after-plastics-mega-deal)

---

Canonical: https://newsio.io/n/eaa57e96-5b14-4962-a4cc-e9c1021d0212/austrias-economy-minister-urged-the-european-union-to-accelerate-free-trade-talk
Summarized by Newsio from Bloomberg. https://newsio.io/how-it-works