Industrial Conference in Greece: How to avoid the deindustrialisation of Europe |
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| What do companies need from policy-makers to remain competitive? What can be done at EU level and in Greece? These were the main topics of a fireside chat between our President Fredrik Persson and Dimitri Papalexopoulos, the Chairman of our Greek member federation SEV, during their Industrial Conference on 9 October. |
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| President Persson highlighted that the risk of European deindustrialisation is real. Data point to the deteriorating competitiveness of the EU compared to global competitors. According to the World Bank, in 2022 the EU economy was 50% smaller that the U.S. economy, when in 2008, the economies of both blocs were more or less on par. The Organisation for Economic Co-operation and Development states that foreign direct investment fell in the EU by 68% in 2021 compared to 2019, |
| whilst in the USA it increased by 60%. The situation is alarming, but the current trend is still reversible. Persson shared three conditions to make the EU more competitive: an investment-conducive regulatory environment, energy and climate policies in phase with business needs, and remaining open to trade. For instance, the EU-Mercosur trade agreement would allow EU exports to expand by €10.9 bn by 2032. |
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Advancing EU-Türkiye relations |
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| Our Director General Markus J. Beyrer joined the celebrations of the 100th anniversary of Türkiye with our member federation TÜSIAD and discussed with their President Orhan Turhan how to move relations between the two regions forward. He also exchanged views, together with TÜSIAD and TISK, with Türkiye Deputy Trade Minister Mustafa Tuzcu. Beyrer highlighted three main points: the two sides must be willing to address trade irritants, the revision of Customs Union is key, and regulatory alignment in green and digital areas is the best way to avoid barriers for business. |
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"It's crucial to deliver on President von der Leyen’s announcements in her State of the Union speech regarding the need to make it easier to do business in Europe and do whatever it takes to improve competitiveness." Our Director General Markus J. Beyrer to Vice-President Dombrovskis, Commissioner Schmit and EU social partners at a meeting on the Commission’s work programme for 2024 on 10 October. |
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