Strengthening competitiveness and unity in Europe
On the occasion of the fifth Trilateral Business Forum that took place in Berlin on September 28 and 29, the Presidents of BDI, Confindustria and MEDEF reaffirmed their commitment to strengthen European sovereignty and competitiveness. Building upon the insightful discussions held during the Forum, BDI, Confindustria and MEDEF jointly call for increased efforts in the following areas: Boosting Europe’s economic security The economic fall-out of the Russian war on our three countries has been deep and complex. Economic growth suffered once again, inflation sky-rocketed initially and is slightly declining now, but employment held up well. Energy security has been guaranteed, even if at high cost. We are determined to support our governments to stay the course and not to allow Russia to undermine our political cohesion. Key challenges to the international competitiveness of our companies have materialized and pose medium-term threats to Europe’s prosperity and strategic autonomy. Inflation, high energy costs, sharp international competition on key technologies, risks for economic security and challenges deriving from the green and digital transition should be addressed comprehensively by our three governments and European institutions. At the same time, a credible, respected, investment and growth-friendly economic governance framework is essential. Focusing on member states net primary expenditure can simplify the rules and help them to construct medium-term adjustment pathways to return to the reference values of 3 per cent of GDP for government deficits and 60 per cent for debt, provided that greater flexibility goes hand-in-hand with credible enforcement in order to ensure sustainable public finances across the EU. Strengthening industrial policy for strategic autonomy and economic security Strategic autonomy and Economic security of our countries need to be addressed head on. While initiative such as the Green Deal Industrial Plan, the Critical Raw Materials Act and the Net Zero Industrial Act represent first attempts to design a true European industrial policy, much more must be done. In future, the central role that industry plays for the EU economy must be fully recognized. An ambitious European industrial strategy is the main road towards sustaining living standards during the twin transition. Specific action plans and policy measures must be adopted based on appropriate risk assessments. In general, all relevant European policies need to be subject to a thorough competitiveness check.
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