Brussels, 13/04/2011 (Agence Europe) - On Wednesday 13 April, the European Commission identified 12 priority projects to relaunch the European single market, from social cohesion to intellectual protection via funding for SMEs. The objective is to adopt, before the end of 2012, key initiatives featuring in each of the 12 priority projects. “We want Europe to be a respected power. This market of 500 million consumers and citizens is the basis of our economy. We want Europe to be not just only a place of consumption, it must keep a productive base. We want to work on new, greener, more sustainable and more innovative growth”, said Michel Barnier, the commissioner for the single market.
“Our priority is growth and jobs”, said José Manuel Barroso, the president of the European Commission.
The 12 priority projects of the Single Market Act are as follows:
1. Access to finance for SMEs. The objective is to facilitate the access of 21 million SMEs to finance to help them to grow. Amongst other things, the Commission will propose finding new modes of finance, such as venture capital (“European passport” for venture capital funds).
2. Mobility of the citizens. The goal is to allow all Europeans who wish to work abroad to be able to do so and to create a better movement of skills and qualifications through the single market. The Commission is proposing to simplify the procedures for the recognition of professional qualifications in Europe, by adopting European Professional Cards and making pension mobility easier.
3. Intellectual property rights. The aim is to ensure that Europe remains an area of creation and innovation, a source of jobs (the creative industry grew by 24% between 1996 and 2006, compared to just 6% in other industrial sectors). The Commission will propose to revise intellectual property legislation to allow creators/inventors and users to develop their commercial models. The Commission hopes to encourage and reward creativity, whilst facilitating the broadest possible distribution of all kinds of knowledge and cultural content. It also hopes to fight counterfeiting. The adoption of the EU patent will be a major step forward in supporting creation in Europe (see other article).
4. Consumers. The Commission wants to increase consumers' confidence, by guaranteeing them the exercise of their rights throughout Europe, including when they make purchases abroad and over the internet. The Commission will propose to develop the alternative dispute regulation.
5. Services. The Commission stresses the need to make the single market for services work as well as possible, by maximising the circulation and availability of services and by developing the full potential of cross-border transactions. Whereas EU growth was 2.1% a year on average between 1998 and 2008, the services sector grew by an average of 2.8% a year. The Commission is proposing to revise legislation on the European standardisation system, extending it to services and making standardisation procedures more efficient.
6. Networks. The objective is to create energy, telecoms and transport infrastructures which are modern and efficient. In order to do this, the Commission believes, the current infrastructure must be adapted to the size and requirements of the European market and to the needs of the citizens, by identifying strategic projects of European interest. The completion of a proper European network of transport and energy infrastructures would help to create around 775,000 additional jobs over the period 2011-2020 and to increase European GDP by €19 billion between now and 2020.
7. Digital single market. Although consumers were more confident in cross-border electronic commerce, savings of €2.5 billion could be made. The Commission suggests that players in the single market (citizens, consumers, businesses and administrative authorities) should be provided with appropriate and safe tools to develop their online activities, for example via the recognition of electronic identification.
8. Social entrepreneurship. The Commission is proposing to facilitate the development of mutual investment funds, taking full advantage of the financial leverage represented by the European asset management industry. The Commission is also working on the European Foundation Statute.
9. Taxation. EU tax legislation needs to be brought into line with the realities of the single market and the cross-border stakes: resolving existing tax obstacles, responding to the new needs of businesses, to sustainable development issues (for example, growth of 0.02% in GDP in the event of a common consolidated corporate tax base).
10. Social cohesion. The objective is boost social cohesion by better clarifying the exercise of the fundamental social rights and the legal framework for the Services of General Economic Interest (SGEI). The Commission suggests clarifying the rules for workers seconded to another member state and recognising the value of the SGEI.
11. Regulatory environment for business. The objective is to make life easier for businesses by reducing the regulatory and administrative constraints, particularly those on SMEs. Simplifying accounting standards for businesses represents potential annual savings of €1.5 billion for 1.1 million SMEs, and €5.2 billion for 5.9 million “very small businesses”.
12. Public procurement. Public procurement contracts worth €420 billion go out to tender at European level every year. The Commission will propose offering simpler procedures to public utility purchasing managers and allowing them to support socially responsible and environmentally-friendly approaches. It also aims to maximise this European asset in relationships with our commercial partners, with a view to achieving a “reciprocal opening-up of our public procurement markets”, the Commission states.