To have an investment-conducive regulatory environment; to remain open; and to strike the right balance between protecting our security and safeguarding our economy - these were the three major conditions cited by BusinessEurope President Fredrik Persson as essential to have a European economy that is more secure, competitive and resilient while maintaining a strong position and leadership globally. He was speaking at an event on a strategic vision to strengthen Europe’s economic security and global leadership, organised by our member the Spanish Confederation of Business Organisations (CEOE) in Madrid, with the participation of Pedro Sánchez, acting Prime Minister of Spain. - Read more
In the State of the Union speech, European Commission President Ursula von der Leyen announced a renewed attention to economic challenges. We welcome this initiative and highlight that with the economy still under considerable strain, concrete steps are urgently needed. For instance, a reduction of excessive regulatory burden. A strong commitment to deliver new trade agreements is fundamental for Europe to remain a competitive economy and a global player. The Green Deal, which according to von der Leyen remains EU’s core economic strategy, needs to be embedded in a cross-sectoral industrial policy that addresses the root causes of Europe’s weakening competitiveness. A rapid full implementation of competitiveness checks and a 25% reduction of reporting requirements are also a must. We look forward to contributing to Mario Draghi’s competitiveness report as Europe needs to become a top investment location again, and we are ready to discuss how to make Europe more successful at the announced Val Duchesse Social Partner summit.
The EU-Mercosur free-trade agreement will reduce tariffs, create a more transparent regulatory environment and contribute to the social and economic development of both regions – highlight Pernod Ricard's Darya Galperina and Laurent Scheer. Watch them explain.
Manufacturing remains one of the pillars of the European economy, contributing 15% to the EU’s value added in 2022. Recent crises and increases in electricity prices have however taken their toll on the manufacturing sector. A majority of EU member states are experiencing a decline in manufacturing output compared to last year, amidst fragile economic growth in Europe and lower than expected exports to China. Though EU manufacturing output was 3,5% higher in May 2023 compared to the previous year, euro area output remained stagnant. A full recovery of the manufacturing industry will take time and should be supported by measures that boost Europe’s global competitiveness, such as a lower regulatory burden, productive structural investments, and an open trade policy. - Read our recommendations
BusinessEurope welcomes the European Commission's acknowledgement of the urgent need to deepen the Single Market, on its 30th anniversary. However, recently proposed actions fall short of addressing barriers to the internal market. For example, 60% of current barriers to the provision of cross-border services are of the same type as 20 years ago, and now also hamper the twin transition. Tangible examples of Single Market barriers are key to understand remaining bottlenecks. BusinessEurope has updated its series of short papers showcasing practical issues across a range of different policy areas: from free movement of goods and services to public procurement, company law or transport. The EU must reinstate the idea of a Single Market as an economic union for free trade without internal barriers. A fully-fledged programme to advance the Single Market integration by removing regulatory barriers to cross-border business operations has the potential to unleash €713 billion by the end of 2029. - Read more
"Trade agreements between the EU and CELAC countries are key to promote ambitious environmental and social standards", BusinessEurope President Fredrik Persson said outlining the European business community’s expectations at the EU-CELAC Business Roundtable. The Summit must demonstrate the EU’s strong commitment to the region, its willingness to trade, invest and contribute to economic growth in Latin America and Caribbean countries. There is a great potential to expand our economic cooperation. The EU-Mercosur Free Trade Agreement would create one of the largest free trading areas in the world, covering nearly a quarter of global economy and 31% of the world’s goods exports. The Summit is an opportunity for the EU to strengthen its political ties in the region at a time of increasing geopolitical tensions, Persson added. - Read more
Digital trade concerns all businesses – small and large, and from all sectors in the economy, from manufacturing to services. At the same time, digital protectionism – barriers that restrict cross-border data flows and discriminate against goods and services provided by electronic means – is on the rise. BusinessEurope brought together a high-level panel of experts to discuss how to address these challenges and facilitate international digital trade, promote the convergence of digital regulations and create a favourable environment for investments. The panellists included Maria Martin-Prat De Abreu, Deputy Director-General, DG Trade, European Commission; María Aparici González, Deputy Director General for International Trade in Services and Digital Trade, Spanish Secretary of State for Trade; and Daniel Nord, Senior Group Legal Counsel at Ericsson. - Read more
15/09/2023
Speeches
Three conditions to make Europe more competitive and stronger in the world
13/09/2023
News
SOTEU: Business welcomes renewed attention to economic challenges
The 2023 edition of the EU Industry Days - Europe’s flagship annual event focussing on key industrial policy discussions - will focus on: main drivers, opportunities and challenges of the green, digital, and resilient transition; EU open strategic autonomy; integration of Ukraine into the single...
Small and medium-sized enterprises (SMEs) are the lifeline of Europe’s economy. They create jobs and wealth in Europe where most of their business is carried out. However, in the last years SMEs have gone through multiple challenges due to Covid restrictions,...
