European ministers meet to talk about growth
European Ministers met in London to discuss driving economic growth in the EU, trade across borders and unleashing the full potential of Europe's enterprises.
The aim of the meeting at Lancaster House was to build on recent European Council agreements regarding the creation of a fully-functioning digital single market, reducing the regulatory burden and maximising the potential of EU services.
Read the Government’s pamphlet Let’s Choose Growth setting out why it’s time for growth in Europe.
The group consisted of Ministers from Member States that have expressed support for the EU growth agenda and its focus on the single market, trade, innovation and reducing regulatory burdens. Today’s meeting was convened to help turn the high level political support for the agenda into real progress.
Andrew McClelland, Chief Operations and Policy Officer at the Interactive Media and Retail Group also attended the meeting and presented a paper on the Digital Single Market and the Challenges Facing the EU. (PPTX, 791 Kb)
Business minister Edward Davey said:
“The strategy of positive engagement with our European partners is beginning to show real results.
“Today’s meeting confirms how an increasing number of Member States share Britain’s view on the need for an ambitious Europe wide growth agenda, and how we are co-operating more closely than ever.”
The EU Single Market already adds €600 billion a year to the economy. Further liberalisation of services and the creation of a digital single market could add €800 billion more - the equivalent of making the average European household almost €4,200 better off each year.
Only 12 per cent of EU online trade is cross-border. By creating a genuine digital single market, European businesses will have access to larger markets, and consumers will find it easier to buy the products they want from neighbouring countries, providing them with more choice and cheaper prices.