Strengthening the EU Single Market and revitalizing European unification efforts is the demand from European businesses
The European Association of Automotive Suppliers has issued a joint statement, urging the revitalization of the European Union's Single Market. The statement highlights the importance of a well-functioning Single Market in restoring Europe's competitiveness, incentivizing investment, innovation, and economic growth.
The joint declaration, signed by 26 organizations, draws attention to the neglected enforcement of Single Market rules and the lack of harmonisation in crucial regulatory areas. It emphasizes the need for a more efficient, simplified, and harmonised regulatory framework across EU Member States to address current challenges faced by EU citizens and businesses.
The statement continues to call for a balanced approach between strategic autonomy and promoting seamless trade within the EU. It identifies the EU's diminishing competitiveness compared to the US and China, and the need to address obstacles hindering cross-border business activities within the EU.
The organizations propose that the European Commission develop a comprehensive program to address and remove cross-border business barriers within the EU, including establishing a clear timeline for eliminating these obstacles to improve the EU-wide market. They emphasize the need for coordinated and faster legislative processes, reduction of bureaucratic and regulatory burdens, and stronger enforcement mechanisms to facilitate seamless cross-border trade and investment.
However, the statement does not provide details on the strategies proposed to address the identified issues or the cost-of-living crisis it aims to tackle. It does not specify any regulatory areas that need harmonisation beyond the need for a more efficient, simplified, and harmonised regulatory framework.
Despite these omissions, the joint statement serves as a call to action for the European Commission and EU Member States to prioritize the revitalization of the Single Market for the benefit of EU citizens and businesses. The organizations hope that a well-functioning Single Market will help Europe regain its competitiveness and promote economic growth in the coming years.
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