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European Council highlights importance of single market as foundation for economy
At its meeting on 2 October, the European Council stressed the need to return to a normal and even better functioning single market in the EU as soon as possible. This is essential for the recovery of the economy and for the EU to achieve its objectives as a sustainable and competitive market. Strategic autonomy and an open economy are parallel objectives.
“The COVID-19 crisis struck without warning, but it was still surprising to see how quickly the internal market ceased to function. Now, it is essential to break the transmission chains so we can prevent the wide-ranging closure of societies. We also need to set the goal of achieving a much deeper and more just single market,” says Prime Minister Sanna Marin
In the European Council’s view, it is essential to adhere to the existing single market rules and to remove unjustified barriers, particularly in the service sector. The European competition framework will be updated to ensure that it meets the challenges of the green transition, the digital transformation and the evolving global context, while also providing clear rules and supporting innovation.
The EU is working towards an ambitious and balanced free trade agenda with the WTO at its core. It is also important to invest in education with a view to strengthening employment and wellbeing.
The Council also concluded that the EU must pursue an ambitious European industrial policy to make its industry more sustainable, more green, more competitive globally and more resilient.
The EU must work to strengthen its economic base by accelerating the digital transition. This will also help in ensuring technological sovereignty, reinforcing global competitiveness, facilitating the green transition, creating jobs and improving the lives of citizens. To achieve digital sovereignty, the EU must build a truly digital single market and reinforce its ability to define its own rules, make autonomous technological choices, and develop and deploy strategic digital capacities and infrastructure.
Inquiries: Jari Luoto, State Under-Secretary for European Affairs, tel. +358 50 468 5949, Kare Halonen, State Secretary for EU Affairs, tel. +358 295 160 319, Anne Sjöholm, Head of Communications for EU Affairs, tel. +358 40 537 0733, Prime Minister’s Office
More information about the Special European Council:
• on the Council website
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