Confindustria and Medef call on the European Union to put business at the centre of political agenda

Brussels – Strengthening cooperation between Italian and French companies to reinvigorate Europe’s future. A summit between Confindustria and its French counterpart Medef (Mouvement des Entreprises de France) concluded today (June 4) in Paris. With only a few days before the upcoming European elections (June 6-9), the leading Italian and French business associations have signed a joint agreement to coordinate their demands to strengthen the position of European companies, considered fundamental to the future of the EU.

The joint statement, the result of the sixth Italian-French economic forum, was signed by Emanuele Orsini, President of Confindustria, and Patrick Martin, President of Medef. One of the first issues that the new Eurolegislature is being asked to address is overregulation, for which the EU should intervene and simplify the regulatory framework. In this regard, Confindustria and Medef welcomed the conclusions of Enrico Letta in the report on the European single market and await Mario Draghi’s, which should be published at the end of June. The complicated moment with war on the doorstep of the European Union has prompted Brussels to review its priorities. With this in mind, Italian and French business associations, to support military production, have called for creating a “common market for the security and defence industry.”

Implementing a “shock on investment” is considered crucial to the EU’s future prosperity to make European companies more competitive. Confindustria and Medef, specifically, call for “a large European Sovereign Wealth Fund capable of mobilising up to €500 billion in private investment.” The EU should also support European companies by preferring to purchase, at the same price and quality, technology from the twenty-seven countries and not from competitors such as China and the United States. Another highlight is the call to embrace technology neutrality and actively support nuclear power generation along with all other green sources.