In a world of increasingly fierce technological and economic competition, the European Union must give greater attention to reinforcing its ongoing competitiveness. In an uncertain world, Europe’s biggest geopolitical asset – and the key driver of our future prosperity – is its Single Market.
Swedish companies reap the greatest benefit when the Single Market serves as a large and effective unified European home market, one that is free from barriers to trade and with clear, simple rules that encourage competition. The Single Market Agenda of the Confederation of Swedish Enterprise highlights selected practical measures to improve free movement within the Single Market, reflecting the current economic backdrop.
The focus must be on the core issues of removing trade barriers, making use of the ‘better regulation’ toolbox and improved enforcement. There should be efforts to reduce administrative burdens, such as overly prescriptive legislation and micromanagement of standards, overuse of delegated acts, and the lack of market control and oversight.
The Single Market is dependent on international trade flows, and the world economy is growing considerably faster than the EU economy. If it is to reap the benefits of these opportunities, the Single Market needs to remain open to the outside world.
Addressing these shortcomings, barriers and lingering distortions could boost the EU economy by as much as 9 per cent of EU Gross Domestic Product (GDP). Indeed, many of the shortcomings mentioned in this agenda have been known for decades. Unhesitating political will and decisive action is needed now in order to boost the internal market.
Swedish Enterprise provides a business perspective for improving the overall functioning of the Single Market. We will contribute to a constructive dialogue with a view to boosting the longterm competitiveness and productivity of our Union.