EuroCommerce, the body representing the wholesale and retail sector in the EU, has welcomed the recommendations of Mario Draghi in a report on the future of European competitiveness.
Director general of EuroCommerce, Christel Delberghe, emphasised that a successful EU competitiveness strategy needs to extend beyond manufacturing and acknowledge the role of services.
“Draghi’s recommendations will steer the EU’s actions for the next five years. We welcome the clear focus on investment, the energy, sustainability and technological transition, better quality legislation, and the single market,” Delberghe added.
Draghi, the former president of the European Central Bank, was tasked by the European Commission to prepare a report on his vision of the future of European competitiveness.
The report has put decarbonisation, energy independence, defence, strategic economic security and innovation at the top of the EU agenda, EuroCommerce noted.
Services Sector
Retailers and wholesalers account for 10% of the EU’s GDP and are Europe’s first private employer, providing jobs to 26 million Europeans.
The sector has been at the forefront of various innovative measures for customers, such as e-commerce, better for the planet food and consumer electronics, more sustainable clothing and the supply of greener construction and electrical equipment for home or office buildings.
Companies in the retail and wholesale segments are making significant investments in supporting the energy transition and developing new business models built on the principle of circularity and digital innovation.
Report Highlights
Retail and wholesale sector in the EU is outperforming the US in mid-technology sectors, according to Draghi's report.
As the sector has scope to contribute more, the EU and member states need to prioritise the single market, work in partnership with retailers and wholesalers to develop a skilled workforce, support decarbonisation and ensure impactful legislation that is low-cost to implement,
Delberghe added, “We strongly encourage the European Commission to think holistically and recognise what retailers and wholesalers can contribute to the EU’s competitiveness.
“As the demand side, retailers and wholesalers provide huge potential to scale up green and digital innovation. We must also look beyond our borders and support diversification of global supply chains that help us remain both resilient and globally competitive.”
