Before the EU special summit on European competitiveness, Peter Adrian, president of the German Chamber of Industry and Commerce (DIHK), urged that Europe must stop losing market share and global influence. “The global race for investment and innovation is gaining momentum, yet Europe is increasingly falling behind” he told the “Rheinische Post” (Thursday edition). “Overburdening bureaucracy, high energy prices, and a still fragmented single market are holding firms back and eroding competitiveness”.
Adrian criticized the EU Commission’s “Competitiveness Compass” for asking the right questions but failing to deliver clear answers or the promised policy shift. “Companies are still waiting in vain for measurable relief. Words alone are not enough; what matters is what comes into daily business practice” he said. “Now state and government leaders must comprehensively improve the economic framework: less bureaucracy, lower energy and labour costs, more competitive tax systems, a unified single market, a forward‑looking EU budget, and greater space for innovation”.
In the face of global upheavals, Europe must become an attractive destination for investors again. “Additional regulation or protectionist reflexes would send the wrong signal” he cautioned. “Policy must return to placing growth and entrepreneurial freedom at its core. Resilience is strengthened by giving companies better opportunities to diversify their sales and supply markets. For this, the EU and the German government must intensify efforts for reliable partnerships and trade agreements” the DIHK head added.
The EU heads of state and government will convene this Thursday for an informal summit with a focus on boosting Europe’s competitiveness.