New EU Commission: Europe urgently needs an agenda for more competitiveness

“The EU must now focus on its strengths. Only with a determined industrial and economic policy can Europe survive in international competition at a time of growing global uncertainty. The new Commission must quickly present a clear agenda that strengthens Europe's competitiveness, drives innovation and takes concrete measures to secure the industrial location. The announced Clean Industrial Deal opens up the opportunity to strike a new balance between economy and ecology.  

A strong industrial base must be maintained and the green transition driven forward at the same time. Consistent dismantling of small-scale regulation is necessary to promote innovation and adaptability. Other key elements that need to be addressed as quickly as possible are the integration of the European single market, a proactive foreign trade policy and the reduction of strategic dependencies, particularly in the area of raw materials. 

More support must be given to innovative areas. This includes targeted support for strategic sectors such as AI and quantum computing as well as doubling research spending under Horizon Europe and new and simplified Important Projects of Common European Interest (IPCEI).

The recently published Draghi report emphasises the need for an economic reorientation in Europe and is in line with many of the BDI's positions.”

The BDI's analysis on the Draghi report can be found here.