High time for a new European competitiveness deal: Business message to the Hungarian Presidency
Budapest, 28 July 2024 – The Presidents and Directors General of BusinessEurope’s member federations gathered in Budapest, at the invitation of our Hungarian member federation MGYOSZ – BusinessHungary. They shared with the Hungarian Government business priorities for the European Union during the incoming Hungarian Presidency of the Council of the European Union. They met with Tamás Sulyok, President of Hungary and also exchanged views with Màrton Nagy, Minister for the National Economy of Hungary and Enrico Letta, author of the recent report on the future of the Single Market.
Lithuanian Confederation of Industrialists President Vidmantas Janulevičius said: “I welcome the Hungarian colleagues to start and lead our ship in the next EU political cycle, that will certainly draw very important lines for the future of European Competitiveness. We have chosen a green competitiveness path in Europe. It is very important that our industry secures not only a sufficient amount of green energy resources, but also a competitive price. And our businesses now often can not ensure the funds needed for the green transformation at an economically viable speed. Former Italian Prime Minister Enrico Letta told European leaders that in order for the European Union to remain competitive alongside the United States and China, it must implement and create a single market for capital and energy. Access to capital is critical not to slow down the industrial potential. Improved conditions in the EU banking sector and investment environment could provide a substantial impetus for new investment and the much-needed transformation, both green and energy, as well as increasing worker productivity.
Finally, in the current geopolitical climate, the need to boost European defence industry will be at the core of the priorities of the next EU political cycle. Only secure and resilient Europe can sustain its economic security and vitality. Improving access to capital and securing a stable energy supply are among the most important aspects to boost defence industry, therefore directly linked to a secure, resilient and stable European economy.”
BusinessEurope President Fredrik Persson said: “Now is the time to fill with life the new European competitiveness deal that will ensure the European Union remains home to successful companies that create quality jobs as part of an economically successful green and digital transition. It will require a reboot of EU policies, with the following priorities for the second half of 2024: working for a reduction of the regulatory burden in a well-integrated Single Market, an open EU strategic autonomy, and an ambitious industrial strategy to complement the Green Deal, including a structural solution for the energy cost differential between the EU and our major competitors. The Single Market is a crucial asset for European industry when competing globally. EU leaders should use the momentum created by the Letta report to reboot our Single Market and improve productivity.”
Péter Lakatos, President of MGYOSZ – BusinessHungary, said: “It is an honour to welcome BusinessEurope and leaders of the major national business federations from all over Europe to discuss our priorities for the incoming Hungarian EU Presidency. We welcome that a New European Competitiveness Deal is one of its key priorities. Over the next six months, we will work with our BusinessEurope colleagues for less and better regulation, more innovation and rules-based trade, with improved market access for European companies and protection against unfair trading practices.”
Please see here the full Budapest declaration of BusinessEurope’s Council of Presidents.
