Extraordinary Employers’ Group meeting - The promotion of innovation as a key driver for europe's competitiveness

In the framework of the Belgian Presidency of the EU, the Employers’ Group, together with the Belgian employers’ federation (Verbond van Belgische Ondernemingen (VBO) - Fédération des Entreprises de Belgique (FEB)) held a conference to highlight the importance of innovation for EU growth and competitiveness.

Members also had the opportunity to visit two companies at the forefront of innovation, namely GSK in Wavre (the group’s largest factory in Europe and an emblematic example of the ‘Belgian Health & Biotech Valley’) and the IMEC research centre in Heverlee (world leader in the semiconductor and nanotechnology industry).

The speakers sounded the alarm bells. While countries like the United States and China are investing massively in innovation, the EU is dangerously losing ground, particularly due to sometimes overly restrictive regulations that hamper research and development. European regulations, although essential to guarantee legal certainty, free movement and a level playing- field in the single market, can sometimes create direct or indirect obstacles to innovation. This situation is particularly worrying given the importance of innovation for ensuring successful energy and digital transitions in Europe and for strengthening its competitiveness on the global stage.

“For Europe to remain competitive and strengthen its position on the global stage, it must promote innovation in all its forms and make it a strategic priority. We see that, for example, in terms of innovation, the United States innovates, China reproduces and the EU regulates. This visit to Belgium by the EESC Employers’ Group was an opportunity to highlight Belgium and its expertise in research and development,” stated Pieter Timmermans, CEO of the VBO-FEB.

In this context, the VBO-FEB and the EESC Employers’ Group reiterated their plea for research and innovation and their promotion to be at the heart of the strategic priorities of the next European Commission (2024-2029).

“To regain a position as a global technological leader, the EU must first identify the main strengths and weaknesses of the European innovation landscape. An ‘innovation stress test’, as proposed by the Belgian Presidency of the Council, for the evaluation of new legislation and policy initiatives could then become an effective instrument for improving the innovation ecosystem in Europe,” said Group president Stefano Mallia.

The conference was followed by an exchange of views with Enrico Letta on his recent report on the deepening of the single market and more precisely on his proposals to make Europe a better place for investment and talent in order to fuel innovation.