Europe is more open to trade relations, but global economic growth will take place outside the European Union - about 300 billion euros of European savings are diverted abroad, mostly to the United States. This was stated by the head of the European Commission Ursula von der Leyen at a press conference after the European Council meeting, UNN reports .
Every year, 300 billion euros of European savings are diverted abroad, mainly to the United States. This is money that is not enough for the development of our companies in the European Union. And this is due to the fragmentation of our capital markets and financial system
The head of the European Commission also noted that in the coming years, global economic growth will take place outside the European Union. However, according to the official, "Europe is a trading continent, much more open than, for example, the United States.
Von der Leyen said that much of our prosperity is ensured through trade contacts, and "the European Union is second to none in negotiating trade agreements.
And I want to give you some CETA numbers. It allowed us to export agri-food products to Canada last year for 4.5 billion euros, which is 53% more than before CETA, which is a real increase. And we have an agri-food surplus of 1.6 billion euros with Canada. Therefore, we need to continue to work on open and fair trade, which will provide our companies with new opportunities.
In this context, it was also reported that it is necessary to create a global playing field, eliminate the risks associated with openness, including through trade defense measures.
We have adopted more than 170 trade defense measures that have protected more than 500,000 jobs in the European Union," said Ursula von der Leyen.
Among other things, the official reminded us of the EU's strong base despite the difficulties:
Unemployment is at a record low of less than 6%. And employment is at an all-time high of 75% in 2023. Inflation is returning to almost 2%. So our collective task is to consolidate this and turn it into sustainable and long-term growth