Competitiveness on the European Council agenda

Competitiveness is a multifaceted concept connected with the need to foster the EU's productivity, the most important driver of long-term growth. While competitiveness has always been an important focus of attention for EU leaders, the past years of multiple crises and an increasingly complex geopolitical situation have brought the topic to the forefront of the political agenda. Turning the EU into a strong and independent global actor supported by a robust economic base, as well as competitive products and services, has become a core priority for the European Council. Recently, much thinking has gone into ways of strengthening both EU competitiveness and the EU's internal market. At a special meeting on 17-18 April 2024, the European Council discussed competitiveness extensively. Landmark reports by two Italian former prime ministers – Enrico Letta and Mario Draghi – have also fed into the discussion. Furthermore, in the Strategic Agenda for 2024 to 2029, which sets the European Council's priorities for the current 5-year institutional cycle, 'a prosperous and competitive Europe' features as one of the three core headline objectives, alongside 'a free and democratic Europe' and 'a strong and secure Europe'. Likewise, European Commission President Ursula von der Leyen's political guidelines also call for 'a new plan for Europe's sustainable prosperity and competitiveness'. Competitiveness will be discussed in depth during an informal meeting of Heads of State or Government on 8 November 2024, which is expected to result in a 'Budapest Declaration'.