Economy Minister Margarete Schramböck (ÖVP) wants to expand cooperation with the US in the field of technology and pharmaceuticals. Austria and the EU want to further reduce their dependence on countries such as Russia or China in view of the latest developments (war, supply problems, etc.).
An important point is that Europe, together with the US, sets the global standards in the technology sector and not China. “We want to build a technology bridge across the Atlantic,” explains Schramböck. To this end, a working agreement has now been signed with the US as part of a business delegation.
“Great potential for the domestic pharmaceutical industry”
There are huge opportunities B. in the pharmaceutical sector. “The US is the largest pharmaceutical market in the world. However, their production of active ingredients is lower than their consumption. Europe, on the other hand, produces more active ingredients than it consumes. That is why I see great potential for the domestic pharmaceutical industry in the US,” emphasizes Schramböck.
In any case, Austria is doing very well, as recently shown by the 1.2 billion investment by pharmaceutical giant Boehringer Ingelheim in Lower Austria. To ensure that more companies can establish themselves there, a 50 million euro investment promotion package has also been launched for the domestic pharmaceutical location.
Apprenticeship training should be “exported”.
But they also want to promote the “export” of our successful apprenticeship training. The US is very interested, the problem of skilled workers is big there. That is why an agreement has now been signed as the starting signal for intensive cooperation, adds Labor Minister Martin Kocher.
A US delegation, led by US Secretary of Commerce Gina Raimondo, will visit Austria later this year. If dual training were introduced in America, domestic companies with factories in the United States would also benefit, eg B. Egger, Voest, Miba or KTM. In total, our US companies employ approximately 50,000 people.
Another opportunity for our companies is President Joe Biden’s $1.2 trillion US infrastructure package. Schramböck: “We want to get a big piece of the pie here.”
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
