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Completion of the Single Market will attract investment and make Europe more competitive
Wednesday, October 28, 2015
Brussels, 28 October 2015 - The American Chamber of Commerce to the European Union (AmCham EU) has today welcomed the European Commission’s new Single Market Strategy. The strategy is ambitious in addressing gaps in the Single Market and has the potential to boost competitiveness and innovation.
AmCham EU has long supported the completion of the Single Market, seeing it as essential to encouraging American investment in Europe. AmCham EU is committed to ensuring a growth-oriented business and investment climate in Europe and despite economic challenges over the past number of years, we firmly believe that the completion of the Single Market is one of the EU’s best instruments to increase GDP, productivity, investment, trade and create new jobs.
The European Commission’s commitment to making it easier for consumers to purchase goods or services in another Member State, either online or in person, will greatly help to improve the ease with which economic activity can take place across national borders.
SMEs are the backbone of the European economy, accounting for over 99% of all companies in the EU. Easing their access to finance is crucial in ensuring these entrepreneurs remain in the EU. Bringing forward proposals for a European venture capital fund of funds, supported by the EU budget and open to others in order to attract private capital is a positive step forward and will lead to increased competition, innovation and ultimately more sustainable growth.
AmCham EU strongly supports the European Commission in further deepening the Single Market through removing all obstacles to the free movement of people, services, innovation and creativity and looks forward to working closely with the Commission going forward.