Critical Raw Materials: ensuring secure and sustainable supply chains for EU’s green and digital future.
Today, (March 16,2023), the Commission proposes a comprehensive set of actions to ensure the EU’s access to a secure, diversified, affordable and sustainable supply of critical raw materials. Critical raw materials are indispensable for a wide set of strategic sectors including the net zero industry, the digital industry, aerospace, and defence sectors.
While demand for critical raw materials is projected to increase drastically, Europe heavily relies on imports, often from quasi-monopolistic third country suppliers. The EU needs to mitigate the risks for supply chains related to such strategic dependencies to enhance its economic resilience, as highlighted by shortages in the aftermath of the Covid-19 and the energy crisis following Russia’s invasion of Ukraine. This can put at risk the EU’s efforts to meet its climate and digital objectives.
EU competitiveness beyond 2030: looking ahead at the occasion of the 30th anniversary of the Single Market
Today, the Commission has published two Communications celebrating the 30th anniversary of the Single Market and setting out how to secure Long-term competitiveness of the EU.
The Single Market is undoubtedly the engine of the EU’s society and economy. Further reduction of barriers and integration, especially for services, are essential for the Single Market to remain the key driver of EU’s competitiveness. In the current geopolitical context, the EU is at make-or-break moment to succeed in the twin green and digital transition and remain an attractive place for businesses.
The long-term view on competitiveness outlines how the EU can build on its strengths and achieve more than merely bridging the growth and innovation gap. A forward-looking, well-defined and coordinated EU framework will foster thriving businesses, able to compete on the global market, with attractive jobs and setting global standards.