In a move that signals a renewed commitment to the European Union’s single market, Sweden has welcomed the recent proposal by the European Commission aimed at rebooting the single market. The new strategy contains over 50 proposals with the goal of making it easier for businesses to trade in the EU, focusing on dismantling barriers, creating jobs, and stimulating growth.
For Sweden, which accounts for almost 70% of its total exports and nearly 80% of its imports through trade with EU member states, the single market is indispensable. The Swedish government sees it as a key driver of the country’s growth and competitiveness.
“The EU Single Market is Sweden’s most important trade arena, but there is a vast untapped potential,” said Minister for International Development Cooperation and Foreign Trade Benjamin Dousa in a statement. “We must remove trade barriers and make it easier for companies to do business in the EU and for people to work. The Single Market is our primary engine for growth, jobs, and the green and digital transition. We welcome the European Commission’s new strategy, which aims to make the Single Market simpler, more efficient, and more uniform.”
The government has long advocated for a new long-term single market strategy, and its adoption is seen as an important step in this direction. Minister for EU Affairs Jessica Rosencrantz noted that the new strategy offers concrete measures that will strengthen the single market.
“One of the Government’s foremost priorities for EU cooperation is to make it easier for businesses to get established, scale up, and stay in Europe,” she said. “There is enormous potential if we eliminate all trade barriers in the Single Market. This could result in a 10% increase in the EU’s collective GDP.”
Sweden looks forward to working with the European Commission on this new strategy, which it sees as an important step towards making the single market an even stronger engine for jobs, growth, and entrepreneurship.
Key Provisions of the New Single Market Strategy
- Streamlining Trade Barriers: The new strategy aims to eliminate all trade barriers in the single market, making it easier for businesses to operate within the EU.
- Job Creation and Growth: The proposal seeks to create jobs and stimulate growth by removing obstacles to business expansion and encouraging investment in the EU.
- Green and Digital Transition: The strategy includes measures to promote a green and digital economy, which will be crucial for Sweden’s future competitiveness and sustainable development.
In conclusion, Sweden’s adoption of the European Commission’s new single market strategy is seen as a significant step forward in promoting EU cooperation and economic growth. By working together with the EU, Sweden aims to unlock its full potential and strengthen its position within the global economy.
A Stronger Single Market for a More Competitive Europe
The Swedish government’s commitment to the new single market strategy underscores its recognition of the importance of trade and cooperation in driving economic growth and competitiveness. As the European Union continues to evolve, this new strategy offers a promising path forward for businesses, workers, and citizens across the continent.