“At a time when businesses are already under immense pressure, a predictable and enabling environment — both domestically and internationally — remains a key precondition for investment and value creation. The Industrial Accelerator Act [IAA] has the potential to provide European industry with much-needed demand-side support”, Eurochambres President Vladimír Dlouhý wrote to Cypriot Minister of Industry Michael Damianos on Wednesday, 20 May, before the EU27 ministers in charge of competitiveness gather for the Competitiveness Council meeting on 28 May.
But “European preference and low-carbon requirements will also generate additional costs for businesses such as higher prices, administrative burdens, risks of retaliatory measures and supply constraints”.
These effects must be weighed against the IAA’s fundamental objectives of “reducing strategic dependencies and strengthening European value creation. European preferential rules must be designed to maximise benefits while minimising side effects”.
The president also says, “From a business perspective, it is encouraging that single market and competitiveness initiatives such as the 28th regime for company law and the Industrial Accelerator Act are being prioritised, with the ambition to conclude negotiations by the end of 2026. The 28–29 May Competitiveness Council meeting is an opportunity to move these agendas forward”.
Link to the letter: https://aeur.eu/f/m05 (Original version in French by Solenn Paulic)