A general approach on the Goods package: Regulation on mutual recognition was reached during the Competitiveness Council held in Brussels which was attended by the Minister for the Economy, Investment and Small Businesses, Chris Cardona.
The Council meeting featured constructive discussions on this dossier, as ministers agreed that the lessening of such ambiguity, as proposed in this draft regulation, has the potential to benefit businesses wanting to expand their portfolio within the EU internal market.
Minister Cardona stated that this concept is of great importance for Maltese businesses as it will allow them to widen their business opportunities in a more transparent manner and reach more EU member states.
During the European Council on competitiveness, the regulation on platforms-to-business relations was also discussed. EU merchants trading online face a series of potentially harmful trading practices where their trade is intermediated by online platforms.
"Malta firmly believes that there is a need to increase the certainty, predictability and transparency both within the Business-to-Business and the Business-to-Consumer spheres. Europe certainly needs to monitor and take stock of the realities taking place across e-commerce in the area of platform development," Minister Cardona said.
Recent initiatives in the digital single market were also on the agenda. Data is now a central asset in our economies and societies and a digital single market strategy is the key for making the EU thrive in the emerging global data economy.
Minister Cardona stated that a European approach, which links investment in digital innovation with strong data protection rules, will allow the EU to create new jobs and open up new business models and innovation opportunities.
The innovative subject of Artificial Intelligence and the new European approach towards this sector and the initiatives based on this approach to enable Europe to be a leader in the development and use of AI, was also discussed during the lunch debate. AI is estimated to be able to contribute up to €13.3 trillion to the global economy in 2030.