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business / news / 2026-05-20 / Bloomberg

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

Austria's economy minister called for faster EU free-trade talks with the United Arab Emirates.

KEY POINTS

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.

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