Economy – Nuyts Professional

06/02/2025

European Commission presents its compass to boost Europe’s competitiveness

President Ursula von der Leyen presented the European Commission’s plan to boost Europe’s competitiveness and turn it into a place where future technologies, services, and clean products are invented, manufactures, and put on the market.

This Competitiveness Compass sets out the course the Commission will follow in the next five years. The Compass, first announced by President von der Leyen in November, transforms the recommendations laid out by Mario Draghi is his report on the future of European competitiveness, into a roadmap.

During a press conference, President von der Leyen explained that Europe has what it takes to lead the global economy of tomorrow: “I want to start by emphasising the strengths of the European Union. We have a very strong manufacturing and industrial base. We have a highly trained and well-educated workforce. We have a continental-size Single Market. We have the second-largest economy. We have a stable and predictable legal environment. And we have a longer life expectancy and lower inequalities than all our global competitors,” the President said. Continue reading “European Commission presents its compass to boost Europe’s competitiveness”

02/01/202531/12/2024

Expanding the EU-Switzerland relationship

On 20 December, the President of the European Commission Ursula von der Leyen and the President of the Swiss Confederation Viola Amherd confirmed the completion of negotiations on a broad package of agreements that aim to deepen and expand the EU-Switzerland relationship.

The broad package includes a wide range of elements:

The update of five agreements which already give Switzerland access to the EU internal market – air transport, land transport, the free movement of persons, conformity assessment and trade in agricultural products. Bringing these agreements to a modern standard will enable citizens and businesses on both sides to fully benefit from the rights they provide and will create a level playing field for business.

Each agreement will reflect the evolution of EU legislation in the area concerned and will ensure it is updated dynamically. The agreements will include dispute resolution provisions and State aid disciplines will apply where relevant. Continue reading “Expanding the EU-Switzerland relationship”

28/12/2023

New tool to enable EU to withstand economic coercion enters into force

Yesterday, the Anti-Coercion Instrument (ACI) has entered into force, providing the EU with the means to deter and respond to economic coercion, and thereby better defend its interests and those of its Member States on the global stage.

The ACI is first and foremost designed to act as a deterrent against economic coercion. Where coercion still happens, the tool provides a structure to respond in a well-calibrated way to stop the coercion. It gives the EU a wide range of possible countermeasures when a country refuses to remove the coercion. These include the imposition of tariffs, restrictions on trade in services and trade-related aspects of intellectual property rights, and restrictions on access to foreign direct investment and public procurement.

The Regulation provides a legal framework for responding to coercion and sets down the means for the EU to investigate and take decisions. It includes timeframes and procedures for stakeholders affected by coercion to contact the Commission and hold a stakeholder consultation before taking countermeasures. The ACI likewise provides a framework for the EU to request a third country to repair the injury caused by its economic coercion. Continue reading “New tool to enable EU to withstand economic coercion enters into force”