First day of competiveness council ends

The first day of a meeting of the EU Competitiveness Council has concluded, with ministers emphasising the importance of a functioning internal market, the digital economy and innovation in promoting the growth of SMEs.

The chair of the meeting, Lithuanian economy minister, Evaldas Gustas commented: “There is still a huge untapped potential for economic growth in SMEs. Therefore, the member states stressed the need for a stronger link between implementation of the Small Business Act (SBA) principles, digital economy and opening of services markets.”

Debating the Europe 2020 strategy, the ministers agreed that industrial policy is a critical area requiring the intensification of efforts. On the issues of energy and climate policies, the Council saw discussion of problems in the EU energy market, stressing the need for consistency in energy and climate policies.

According to the Lithuanian Presidency, the meeting will contribute towards October’s European Council meeting.