Source: European Parliament
Through the Single Market, the EU has created a way for European companies to have a large home market of 27 Member States, a gross domestic product in excess of EUR 17 000 billion and 450 million customers[1]. This provides economies of scale and scope, necessary for companies to compete on world markets.
The Commission will continue strengthening the Single Market and will continue its industrial policy, including addressing strategic dependencies.
The European Green Deal[2] has put Europe on the track of decarbonisation. By making Europe more efficient in terms of materials and energy, we will increase our open strategic autonomy and become less dependent on imports, including on critical raw materials.
This will boost EU competitiveness and security, while ensuring a healthy environment for EU current and future generations. The Clean Industrial Deal[3] strengthens the business case for investments in competitiveness and decarbonisation.
More specifically, the Commission will propose an Industrial Decarbonisation Accelerator Act that will increase demand for EU-made clean products, including by making use of introducing sustainability, resilience, and ‘made in Europe’ criteria in public and private procurement.
Moreover, the Industrial Decarbonisation Bank[4] will provide industry with the funding required for ambitious decarbonisation projects. Other measures will boost circularity and ensure access to a skilled workforce.
- [1] In addition, the Single Market is well integrated with the European Economic Area as well as with many candidate countries. Further integration is foreseen with the candidate countries.
- [2] https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:52019DC0640
- [3] https://commission.europa.eu/topics/eu-competitiveness/clean-industrial-deal_en
- [4] See under Clean Industrial Deal, footnote 3, above.