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 today 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.

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.