This project provides the first economic assessment of economic consequences for the Austrian economy of the anticipated MERCOSUR free trade agreement based on the legislative draft of the agreement published in mid-2019. The focus of the analysis is on the quantitative impact on employment and value added of the Austrian economy and on consequences for non-trade concerns. Among the latter are implications for socio-economic aspects like labour rights and potential implications for the environment, in particular on climate change aspects. The quantitative analysis will cover in more detail the agricultural sector which is likely to be exposed to a larger extent than other sectors. The purpose of the study is to shed more light on the effect of this agreement on Austria. The Austrian parliamentary board on EU affairs decided to obstruct any steps towards freer trade with MERCOSUR countries. This study aims to explore the rationale of this decision and to explore further aspects that may not yet have been considered.