"Achieving sustainable growth in a competitive world is challenging. The challenge is even greater for the European Union, as the Old Continent faces a severe competitiveness deficit. Without entering into a health review, that could be delivered at a further stage, of each of the 28 Member States, the ambition of this study is to draw-up a comprehensive picture of EU economic growth.
The business sector in Europe believes it is time to redefine EU priorities, by putting competitiveness first, implementing the better regulation agenda and offering better support for innovation. To improve the environment for investments in innovation and to address issues underpinning it, an appropriate framework must be put in place.
Europe is lagging behind other global players in terms of research and development (R&D). The business sector in Europe believes that if the EU is to become more competitive globally, more focus needs to be put on innovation. Greater clarity is needed in setting priorities. The most serious problem is that despite funds being allocated to basic research, the results of the research process do not make it to the market. Research and new technologies exist, but there are obstacles preventing them from being brought to customers.
European industry is a crucial part of the EU economy. Manufacturing still accounts for 80% of EU exports and ¼ of its employment. The goal of increasing manufacturing industry's share of EU GDP to 20% is still some way off. It currently sits at 15.1%. In order to increase this share, European industrial policy must be the focus of EU policy makers. The publication summarises a discussion entitled "Reinforcing European industrial competitiveness" organised by the EESC Employers' Group in November 2014 in Rome, Italy.
The EU is highly dependent on energy resources. More than a half of EU energy consumption is linked to imports. Increasing instability in the Middle East together with the deterioration of EU-Russia relations mean that energy security will remain at the top of the EU's agenda in the coming years. How can we achieve a true energy union? How can interconnectivity be increased between Member States? What should the ideal energy mix look like and how can energy efficiency be increased within the EU? The publication summarises the debate that seeks answers to these questions.
The Transatlantic Trade and Investment Partnership is the biggest and most ambitious free trade agreement currently being negotiated by the European Union. Economists believe that an agreement with the USA will be advantageous for both the European Union and the USA, and the negative effects of trade liberalisation will be insignificant. This publication is a summary of the debate on "What development opportunities does the TTIP bring to Europe?" that was held in Sopot on 2 October 2014 as part of the European Forum for New Ideas.