Eurochambres statement on the EU long-term Competitiveness Strategy

Restoring the long-term competitiveness of economic activity within the EU is vital, and success will depend on striking the right balance between short term and long-term EU challenges.

Europe is facing strong economic headwinds. Higher energy costs are squeezing businesses, along with broader inflation and supply chain disruptions. Alongside the humanitarian crisis, Russia’s invasion of Ukraine continues to have far-reaching consequences for EU businesses. Decisive measures are needed to raise Europe’s competitiveness in order to support higher levels of productivity, employment and prosperity. But Europe’s competitiveness and long-term, sustainable growth potential suffer from a history of underinvestment in important areas, an under-performing and fragmented single market, and regulatory burdens that impede in particular SMEs.

In light of the 30th anniversary of the internal market and at the request of the European Council, the European Commission will on 16 March present a long-term strategy for European competitiveness. This will feed into the European Council spring summit on 23–24 March.