EU COMPETITION POLICIES NEED TO ACKNOWLEDGE GLOBAL CHALLENGES

Following Executive Vice-President Margarete Vestager setting out her strategy for the future of EU competition policy, BusinessEurope’s Director General Markus J. Beyrer said:

“We support reviewing EU competition rules to make them fit for markets that are changing fast. We clearly recognise the fundamental role that well-functioning competition rules play in the internal market and EU competition policy should ensure effective competition between companies, facilitating the twin transitions and contributing to job creation, growth and investment.

We welcome prolonging existing measures under the State aid Temporary Framework. Whilst it is important that we resume to the normal rules on State aid, we must make sure we do not do so prematurely before the recovery is self-sustaining.

It is essential that EU legal policies work towards improving the competitiveness of EU companies both inside and outside EU borders.

Competition rules should define markets in a realistic way, taking account of global market conditions, creating the right conditions for European cooperation to enable our companies and joint ventures to compete worldwide and to pursue sustainability objectives. State aid policy should support good aid and investment in research and innovation projects that contribute to the EU’s edge on a global stage. European businesses should be supported in their transition towards climate neutrality and sustainable growth so in principle eligibility to aid should be granted to all technologies that contribute to climate transition.

The EU should ensure a level playing field for all business models allowing them to be competitive and to respond to customer demand, also in a rapidly changing digital environment.”