Ireland’s EU Presidency must accelerate actions to improve European competitiveness

Ahead of the Irish Presidency of the Council of the European Union, BusinessEurope’s Council of Presidents gathered in Dublin at the invitation of Irish member federation, Ibec. ”Delivering impactful action to put the European economy back on track is more urgent than ever”, says BusinessEurope President Fredrik Persson.

– Europe’s resilience continues to be tested by war on its borders, high energy costs, and increasing geopolitical fragmentation. Delivering impactful action to put the European economy back on track is therefore more urgent than ever, says BusinessEurope President Fredrik Persson.

– Important efforts have been made to move forward with the competitiveness agenda, but companies are not yet feeling relief. Accelerating the reduction of the regulatory burden, deepening the Single Market, and adapting the EU Emissions Trading System (ETS) are urgently needed. To address geopolitical risks, the EU must also continue to diversify its trade partnerships and secure access to new markets.

The six months of the Irish Presidency will be crucial in turning ambition into action, Fredrik Persson emphasizes.

”Europe has rightly moved to strengthen bilateral partnerships”

Ibec-president Colin Hunt is honoured to welcome the leaders of 40 national business federations from 35 European countries to Ireland ahead of our assumption of the EU PresidencyIbec.

– The unpredictability of the global trading environment, along with the broader competitiveness challenges for Europe outlined in the Mario Draghi report, underline the importance of accelerating Europe’s competitiveness agenda for business. With 85% of future economic growth predicted to take place outside of Europe, a proactive, outward-looking common trade policy - paired with the ability to attract investment - remains fundamental to Europe’s success, says Colin Hunt.

– Europe has rightly moved to strengthen bilateral partnerships and rapidly accelerate its trade agenda to secure the economic future of Europe. The recent provisional application of the EU-Mercosur interim trade agreement, alongside the landmark conclusion of free trade negotiations with Australia and India in the past 12 months, was crucial for businesses across Europe. We must use the Irish Presidency to further champion trade cooperation with third countries that delivers true market diversification for European businesses, Colin Hunt concludes.

To read the full Declaration of the Dublin Council of Presidents, please click here.