Cefic & 25 EU associations push for robust single market

With the European landscape currently navigating through complex geopolitics and strategic vulnerabilities, the European Commission and EU member states are increasingly focusing on enhancing autonomy and mitigating risks. However, Cefic and its allies argue for a strategy that equally prioritises the facilitation of seamless trade within the EU, highlighting the critical balance needed between autonomy and market fluidity.

Despite the importance of the single market in fostering cross-border business activity, recent years have seen a lack of emphasis on systematically enforcing single market rules and fully harmonising regulatory frameworks across key sectors. This neglect has resulted in a fragmented regulatory environment, deterring investment and scaling within the EU, and subsequently leading to reduced foreign direct investment and economic growth, Cefic and other organisations said in a join statement.

Cefic and the associated EU organisations are advocating for a renewed commitment to the single market, emphasising its role in driving investment, innovation, and overall competitiveness in Europe. The group's recommendations include deepening market integration, removing cross-border trade barriers, and adopting a holistic approach to competitiveness to sustainably enhance Europe's position on the global stage.

“In a geopolitical world that becomes ever more complicated, Europe has to use all the strength it has. Our core strength is the single market. We need to cherish, nurture, improve and expand it, for example with a single market on waste. A well-functioning single market is crucial for a future prosperous and competitive Europe,” said Marco Mensink, Cefic director general.

ALCHEMPro News Desk (DP)