As the leader of American business with significant, longstanding investments in Europe, I know firsthand just how crucial a truly integrated European market is. Over the past years I have also seen the significant challenges that a growing regulatory burden and the economic repercussions of geopolitical events have placed on industry in Europe. Amidst these complexities, earlier in April, former Italian Prime Minister Enrico Letta unveiled a pivotal report on the future of the EU Single Market, shedding light on key obstacles impeding competitiveness. While providing a strong political and economic case for deepening and broadening of the Single market, he also proposes concrete policy solutions to fundamental issues such as financing the green transition, lowering the cost of decarbonization and improving the regulatory environment through simplification and better enforcement. All of these are essential to keep manufacturing of strategic sectors, such as the tire industry, in Europe and avert the risk of deindustrialization. As a new policy cycle approaches, developing a comprehensive plan to fortify European competitiveness and foster sustainable growth is of pivotal importance. This is why I enthusiastically signed the Antwerp Declaration calling for a European Industrial Deal that complements the EU Green Deal and I encourage other companies and organizations to do the same. Together, let's pave the way for a revitalized business landscape in Europe. https://lnkd.in/eK8mAhgd

Scale matters more than ever for European competitiveness. Here's why: As we enter a new geo-economic era, Europe's competitiveness is under pressure. New research highlights the need for bold action if European firms are to compete globally. Scaling up across Europe, in areas such as R&D, will help companies increase their competitiveness, write Sven Smit and Jan Mischke in World Economic Forum. http://dlvr.it/T7LyFz

Bringing the Western Balkans and the EU closer. European Commission President von der Leyen participated in the Berlin Process Summit in Tirana and presented the Growth Plan. It is based on four pillars: 🔸 bringing the Western Balkans into the Single Market. 🔹 completing their Common Regional Market. 🔸 accelerating reforms to have more convergence of the economies 🔹 increasing EU funding for investment. Only by working together will we bring the Western Balkans right where they belong, to the heart of the European Union. #EuropeanUnion

Yesterday I joined a panel discussion at a conference arranged by Tænketanken EUROPA, where we discussed the challenges and answers for European competitiveness. Figures clearly show that European competitiveness is challenged, and we must act fast if we are to rectify this. Personally, my main concern is that our ability to generate economic growth in Europe is too poor compared to the US and Asian countries.   My key message was that we must release the full potential of the inner market because it’s a prerequisite for us to deliver the economic growth we need in Europe. To do that we should launch pan-European initiatives, like we have seen it with the Inflation Reduction Act in the US. It will attract capital and innovation so we can deliver on our ambitions on the green agenda and the security of Europe.   Thank you Lykke Friis and Tænketanken EUROPA for taking the initiative and putting this important topic on the agenda. And thank you Lars Sandahl Sørensen, Claus Jensen, Lars Petersson, and Merete Juhl for a very constructive debate.