Commission Releases New Report: The Future of European Competitiveness

On 9 September 2024, the European Commission (EC) published a new report that examines the challenges industries and businesses face within the Single Market. Its findings will support the European Commission's efforts in crafting a new plan for Europe's sustainable prosperity and competitiveness. This will play a key role in shaping the upcoming Clean Industrial Deal aimed at fostering competitive industries and quality jobs, which is set to be introduced within the first 100 days of the current EC mandate (2024-2029). 

The report identifies three key areas for action to achieve sustainable growth. First, it emphasises the need for the EU to intensify efforts to close the innovation gap with the United States and China, particularly in advanced technologies. Secondly, it calls for EU institutions to collaborate on a unified plan for decarbonisation and competitiveness. Lastly, it highlights the importance of enhancing security and reducing dependencies. 

As outlined in the report, converting innovation into commercial opportunities is key to driving growth. Additionally, the report acknowledges the value of patent data in informing policy decisions and emphasizes the role of the patent system in fostering economic growth.