European Union (EU) leaders have adopted the Budapest Declaration on enhancing European competitiveness. The corresponding press release was published on the European Council website on 8 November.
‘Faced with new geopolitical realities, economic and demographic challenges, we, the leaders of the European Union, are determined to ensure our common economic prosperity, enhance our competitiveness, making the EU the first climate-neutral continent in the world and ensuring the EU’s sovereignty, security, sustainability and global influence,’ the text reads.
It is specified that all actors must be involved in these improvements in order to enhance competitiveness. The text emphasises the urgent need for concrete action to address the challenges.
‘The need for a unified response has never been more urgent. We call on all EU institutions, Member States and stakeholders to urgently implement and realise this new European competitiveness treaty,’ the press release wrote.