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Critical Raw Materials Act: what is essential to support competitiveness

European Commission Executive Vice-President Valdis Dombrovskis organised a roundtable to exchange views with business ahead of the publication of the Critical Raw Materials Act in March. "To support Europe's competitiveness at this crucial time", said BusinessEurope Director General Markus J. Beyrer, "the Act should focus on 3 pillars: first, to enable companies to diversify their supply of critical raw materials. For this, trade agreements, robust market access and strategic partnerships with resource-rich third countries are essential. Second, to strengthen sustainable extraction and processing of raw materials in Europe, and streamline permits procedures. Third, the right governance: governments and companies together should identify challenges and solutions; a top-down governance model that picks winners, puts unnecessary obligations on economic operators and impedes the level playing field should be avoided." Representatives of BusinessEurope member federations and partner companies also attended the event.

Photo © European Union, 2023

Last updated: 17 February 2023