EU Council charts new path for single market
June 4, 2024
As the single market enters its fourth decade, the EU aims to solidify its global economic position and ensure that all member states benefit equally from its advantages.
The EU Council has adopted a set of conclusions titled “A single market for the benefit of all,” laying out a comprehensive strategy to reinvigorate the European single market. Belgian Deputy Prime Minister Pierre-Yves Dermagne emphasised the significance of this move, stating, “The internal market is one of the EU’s main achievements, but we must not be complacent.”
The conclusions call for a holistic new strategy focused on improving the regulatory framework to unlock the market’s full potential. Acknowledging the single market’s achievements over its 30-year existence, the Council recognises the need for modernisation to meet current global challenges. A new strategy is expected from the Commission by June 2025.
Key recommendations include the removal of unnecessary administrative burdens and obstacles hindering company growth, with a particular focus on SMEs, and the adoption of digital solutions in future regulations. The Council also stresses the importance of better utilizing existing tools like SOLVIT centres to address cross-border issues and prevent over-regulation.
The EU Council’s proposals for enhancing the single market could significantly benefit the European printer remanufacturing sector, which is predominantly comprised of SMEs. By removing unnecessary administrative burdens and adopting digital solutions, these measures aim to streamline operations and reduce costs for small businesses. Improved access to finance and a clear regulatory framework will further support innovation and growth within the sector.
Additionally, prioritising sustainability and green technologies aligns with the remanufacturing industry’s goals, potentially leading to increased market opportunities and competitiveness for these SMEs
The conclusions also advocate for enhanced consumer protection, dynamic impact assessments, and the use of regulatory sandboxes to test innovative technologies and approaches. Additionally, the Council highlights the need for improved education, training, and lifelong learning to strengthen the EU workforce and attract skilled non-EU workers.
Categories : World Focus
Tags : Business EU Global Economy Modernisation Regulation Single Market
