EU competitiveness: consumer protection must be a driver for growth

The EU Commission is publishing today its economic vision for the next five years - dubbed the ‘Competitiveness Compass’ - to help the European Union regain its competitiveness worldwide. BEUC, The European Consumer Organisation, calls on the EU to ensure that European industry delivers safe, sustainable and affordable products to consumers, which will allow the European economy to fill the growth gap with powers like the United States and China.

Agustín Reyna, Director General of BEUC, commented:

“There is no doubt our continent is losing competitiveness on the global stage and that we need to act. Decision-makers need to understand that when consumers feel protected, they are more likely to engage in markets. Ultimately, it is consumers’ choices which will determine whether European car makers, food producers or retailers will be competitive or not. Europe must ensure that industry can compete to deliver the best offers for consumers. We have an opportunity to lead on green technologies and business models that are aligned with our values. What we need are the right incentives to make European markets work for consumers and ultimately flourish.

“Over the past years, the EU has come up with many important and necessary rules, be it to reduce carbon emissions, to ensure people’s privacy or protect them against unsafe products. Such ambitious rules make Europe one of the safest places for consumers to live in. Now is the time to facilitate companies’ compliance and enforce these standards to benefit both the economy and consumers.”

ENDS

More information:
‘Draghi push for competitiveness must not come at expense of competition and consumers’, BEUC press release, 9 September 2024.