The business confederations of the Mercosur countries and BusinessEurope, which represents 40 European business confederations, today called for the rapid ratification and implementation of the agreement between the European Union and Mercosur, warning that a delay could jeopardize the full potential of the opportunities offered by the agreement. Read the joint statement.
BusinessEurope, DIGITALEUROPE, the European Round Table for Industry (ERT) and the European Automobile Manufacturers Association (ACEA) jointly published “Schrems II - Impact survey report” on 26 November. The survey aims at providing a snapshot of how personal data is transferred from Europe to the rest of the world and to contribute to a fact-based pragmatic solution going forward. The EU data economy is expected to amount to €827 billion by 2025 and the ability to transfer data across borders will be crucial for the recovery of the European economy after the COVID crisis. “We believe this is crucial insight to guide decision-makers. Not the least because 75% of those using standard contract clauses (SCCs) are European, and Europe’s prosperity and global influence rely upon their use”, said BusinessEurope’s Director General Markus J. Beyrer.
"Even though the EU economy began its recovery during the summer, our recent Economic Outlook shows that the path back to pre-COVID levels of output is likely to be long and uneven, with uncertainty unusually high and business investment hit particularly hard", BusinessEurope President Pierre Gattaz said at the World Manufacturing Forum 2020. He focused on the role of industrial policy for European competitiveness during the COVID-19 pandemic, in a panel with institutional representatives. Asked about the plan of the European Commission to update the EU industrial strategy, he emphasised the need to take the impact of COVID-19 on European companies and on investment capacity into account. "The updated industrial strategy should underpin the Green Deal with a credible business plan, support digital transformation, restore Single Market freedoms of movement to pre-COVID conditions, and support an ambitious trade agenda and SMEs", he concluded. Read more
BusinessEurope today published its Autumn Economic Outlook 2020 with figures suggesting that whilst the economic recovery is underway, it is uneven and uncertain. Even by the end of 2021, the EU economy will likely still be 3% below pre-crisis level. Given the resurgence of the virus, Director General Markus J. Beyrer commented, a very rapid implementation of the EU recovery instrument is essential in this enduring COVID crisis. At the same time, EU member states must avoid any premature unwinding of measures to support business and workers, such as wage subsidies and tax holidays, which would risk a new recession. With private investment having fallen considerably during the crisis, we need public investment to temporarily fill that gap. This means rapid agreement and implementation of the EU's Next Generation recovery instrument. "This recovery instrument represents both a once-in-a-generation opportunity to transform our economies and a great opportunity to show that Europe can be the solution in times of crisis. Now is not the time to be pressing particular favoured projects, it is the time to unite", Beyrer added. You can also watch a video of our Director for Economics James Watson talking more about the situation.
BusinessEurope organised its annual CEO event on 27 October, bringing together virtually President Pierre Gattaz, Director General Markus J. Beyrer, three BusinessEurope Vice-Presidents and 27 CEOs of its Advisory and Support Group. The group exchanged views with European Commission President Ursula von der Leyen, Executive Vice-Presidents Valdis Dombrovskis and Frans Timmermans, and Commissioner for Economy Paolo Gentiloni on the EU recovery plan, the EU Multiannual Financial Framework (MFF), European Green Deal, Europe’s digital transformation, the international trade agenda and several other issues.
Speaking at the Tripartite Social Summit today, President Pierre Gattaz said: "All the EU actions during the next year must focus on making sure that the financial package, agreed by the European Council in July to recover from the COVID-19 crisis, reaches enterprises and workers rapidly. Boosting investment to create new jobs and supporting viable businesses of all sizes, in particular SMEs, as well as their workers should be at the core of Europe’s crisis response. This requires investing in the right projects and implementing the necessary reforms to generate the growth necessary to recover from today's crisis, and make the life of future generations better. Besides the strong focus on the green and digital transitions, we welcome the strengthening of key industrial value chains and ecosystems as well as essential EU infrastructures and services of general interest. As European employers, our priority is to make sure that the financial support under the new MFF and Next Generation EU enables enterprises to invest, grow and create jobs." Read more