Ibec reaction to European Commission President Ursula von der Leyen’s State of the Union address
Neil Willoughby, Head of EU and International Policy at Ibec said:
"Irish businesses won’t have been surprised to see so much of the President's speech focus on reducing dependencies, particularly regarding energy, critical raw materials, security, and defence, as well as addressing where Europe lags behind global competitors in AI. There is a strong acknowledgment that the EU and Ireland it must build its own capacities and focus on delivering tangible value to the real economy to boost competitiveness.
"While much of the competitiveness agenda has been well aired following the publication of the Draghi and Letta reports, business will be hoping for progress on the One Europe, One Market Roadmap’s ambitious targets and a firmer commitment to the simplification agenda- most notably, a full review of the EU acquis and simplification embedded in new policy by design. The Savings and Investment Union remains a real opportunity for Europe, and we welcome the role it will play in supporting further measures to simplify banking rules.
"The security and resilience of Europe remain a key issue for businesses across Ireland and Europe. Protecting critical infrastructure, mitigating the damage created by cyber threats, and avoiding disruption to supply chains are critical components of business and economic resilience. In this regard, we welcome the development of a European Security Strategy focused on hybrid threats, alongside efforts to establish an Emergency Security Protocol to better coordinate responses across Europe. While the proposal for Canada to become the first EU 'Associate Member' is notable, business will seek clear details on what this 'Alliance for the Future' will mean in practice across supply chains, technology, economic security, and the evolution of the CETA agreement."
