V4 Entrepreneurs Call on EC to Support Industry as Precautionary Measure

Bratislava, 10 June (TASR) - Fair competition, balanced regulation and targeted support for industry can ensure sustainable economic security and the EU's global position, entrepreneurs from the Visegrad Four (V4) countries (the Czech Republic, Hungary, Poland, Slovakia) stated in a memorandum from the fourth year of the V4 Business Conference, which took place in Bratislava on Tuesday, adding that the European Commission (EC) shouldn't wait for the damage to be done, but take preventive action. "The European market faces strong price competition from third countries that benefit from unsystematic subsidies, lower environmental standards and cheaper energy. This distorts the market and requires a swift EU response through anti-subsidy and anti-dumping instruments. The memorandum calls on the European Commission to act pre-emptively already on the basis of the 'threat of damage' principle, without waiting for the actual occurrence of damage," said the business leaders. Industry representatives cited as key measures the substantial reduction of regulatory and administrative burdens on business, the inclusion of strategic industries such as steel in EU innovation programmes, and the promotion of realistic transformation targets and technology neutrality in the automotive sector. Representatives of trade unions and associations also stressed the urgency of restoring transatlantic trade relations between the EU and the US. Ongoing trade disputes are undermining this partnership, increasing costs and uncertainty for businesses and consumers, while at the same time putting jobs at risk. The restoration of tariff-free arrangements in key sectors such as the automotive industry, steel, aluminium and clean technologies is essential. am