The European Commission has announced a new single market strategy aimed at tackling trade barriers within the European Union. The initiative aims to simplify the increasingly complex rulebook and address the regulatory burden faced by businesses. The goal is to revitalize the single market by 2030.
The strategy seeks to address obstacles to cross-border trade and investment, including bureaucratic hurdles and protectionist measures. Key areas of focus include rationalizing environmental measures and reducing technical specifications. The Commission acknowledges that the regulatory burden is seen as an obstacle by two-thirds of companies.
The Commission aims to reverse its retreat from enforcing single market rules. It plans to set out a detailed timetable of initiatives and reforms for both public and private sectors. Transparency will be key to the success of this strategy.