Retail & wholesale: Letta’s report requires real commitment from EU institutions

The High-Level Report on the Future of the Single Market by Enrico Letta was published on April 17. The report makes a clear call upon the EU institutions, the member states, social partners and citizens to commit and act to strengthen the Single Market for the EU to remain relevant.

Global changes

Christel Delberghe, Director General of EuroCommerce commented, “This long-awaited report is a wakeup call to reprioritise the Single Market in light of powerful global changes at play. The time to act is now. We call on the EU institutions, member states and businesses to embrace the report and to take the necessary steps towards consolidating the Single Market and making the EU a more attractive place for investment, innovation and to live for future generations.”

Many hurdles identified

EuroCommerce, the European association representing small, medium and larger retailers and wholesalers, recognises the many hurdles facing the Single Market identified in the report. International competition and regulatory complexity have increased, and a lack of investment and commitment to a truly European market are affecting our relevance globally. EuroCommerce has long reported and called for action on the many barriers facing retail and wholesale, highlighting their impact on competitiveness, customer choice, prices and innovation. The Letta report acknowledges the specific exposure of retail and wholesale to global competition, the many barriers and the need to address them.

As Mr Letta rightly says, the EU needs a “strong political commitment to empower a new Single Market.” This goes hand in hand with the joint EU industry statement of 2022, where businesses call for “Fresh Political Engagement to Renew Economic Integration in the Single Market”.

Source: www.eurocommerce.eu