Striking the balance between short term and long-term measures to restore EU’s competitiveness


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 the European competitiveness. This will feed into the European Council spring summit on 23–24 March.

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 barriers for SMEs. Decisive measures are needed to raise Europe's to higher levels of productivity, employment and prosperity.  Addressing the short-term needs of businesses is imperative in the current economic climate, but at the same time we must not lose sight of the longer-term challenges.

The October 2022 Eurochambres Competitiveness Compass, defined four cardinal points to ensure Europe’s competitiveness: Compliance, Skills, Markets, Resources.

  • Compliance -  Strengthening the EU through better regulation
  • Skills - Meet the skills needs for a competitive, sustainable European economy.
  • Markets - Enable businesses to capitalise on the Single Market and International Trade opportunities.
  • Resources -  Speed up resources to put businesses in the driving seat of Europe’s energy and digital transition

Europe’s long-term competitiveness depends on addressing each of these points on the compass and a coherent and effective consideration of the needs of business across different policy areas and at all levels, from the EU down. As stated in Eurochambres statement, this approach must characterize the remainder of the 2019-2024 legislative term and be central to the preparations for the next five years.

Ben Butters, Eurochambres CEO