To ensure a safe and competitive Europe, it is necessary to increase production in Europe and reduce dependence on imports and this also applies to defence equipment, which the EU currently imports to a large extent, resulting in losses of finances, jobs and know-how, according to Economy Minister Denisa Saková (Hlas-SD).
The Minister was taking part in an informal session of the EU Competitiveness Council in Nicosia. During the first part of the talks, ministers focused on bolstering the European defence technological and industrial base, particularly through better cross-border cooperation, coordination of demand, planning and reducing dependence on suppliers from third countries.
Saková supported the creation of a European Competitiveness Fund as a strategic tool to link the civilian and defence industries and to firm up cooperation among member states.
According to her, greater support for the European defence industry is needed, ranging from strengthening supply chains and demand planning to strategic coordination of production capacities.
Ministers also assessed the Competitiveness Compass one year after its launch and discussed initiatives in the areas of innovation and artificial intelligence, the transformation of energy-intensive industries, boosting production capacities in strategic sectors and reducing administrative burdens.
"The European Competitiveness Fund will provide more than 230 billion euros to support production, innovation and industrial modernisation, and Slovakia will also apply for these funds," Saková added.
She also underlined the need to support traditional industry and to set green targets in a way that is economically realistic.
The talks also addressed strengthening the single market, in particular better enforcement of rules for imports of goods from non-EU countries, consumer protection in the digital environment and reducing administrative burdens for businesses.
Source: TASR
