The EU is the top trading partner for 80 countries. Trade policy has been instrumental in supporting the EU’s competitiveness and presence in the world for decades – highlighted our Director General Markus J. Beyrer in his opening remarks at the event “Open Strategic Autonomy: How trade policy can best support European competitiveness”, jointly organised with our Irish member Ibec at the European Parliament. It was hosted by MEP Barry Andrews and also had the participation of MEP Kathleen Van Brempt and Ibec’s Director of EU and International Affairs Pat Ivory. “With fierce global competition, with faster growth rates and more consumers, we need to step up efforts to make our value proposition to trading partners attractive, meaningful and reliable”, Beyrer said. - Read more
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.
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
"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