How to unlock European competitiveness by leveraging investment and trade

In a panel discussion at the Salzburg Summit 2024, organised by our member, the Federation of Austrian Industries (IV), Director General Markus J. Beyrer emphasised the need for rapid political action at EU level to improve investment conditions by massively reducing bureaucracy and regulatory burdens, deepening the single market and pursuing an open and ambitious trade agenda. ‘In the coming months, we must succeed in signalling to companies in and outside Europe that it is worth investing in Europe again,’ he emphasised.

In view of the sluggish economic outlook and the weak economic indicators for the European economy, Beyrer emphasised in particular the urgency of closing the energy cost gap with our global competitors, which has widened considerably in recent years, and which continues to put European companies at a severe economic disadvantage. The EU must take action now and massively deploy all necessary energy sources and infrastructure to prevent further business relocation, investment and carbon leakage and ultimately enable Europe to achieve climate neutrality without de-industrialising.

To read our recent study on this topic, in partnership with Compass Lexecon, and BusinessEurope's policy priorities, click here.