The President of the European Commission spoke at the 55th World Economic Forum in Davos, Switzerland. Ursula von der Leyen stressed that cooperation between the EU and the US benefits both parties.
“Two-thirds of the United States’ overseas assets are in Europe,” he said, “Trade between our countries is worth 1.5 trillion euros, which is 30% of global exchange.” The stakes are high for both sides,” he added.
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Ms. von der Leyen also spoke about her goals for relations with Washington. – Our priority is to discuss common interests and readiness for negotiations. Although we are pragmatic, we will always uphold our principles, protect our interests and uphold our values, she said.
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She also raised the issue of the Paris climate change agreement, signed in 2015, which Donald Trump withdrew from shortly after taking the oath of office. – The next few years will be important not only in Europe. All continents must accelerate the transition to net-zero emissions and address the growing burden of climate change, he warned.
The EC chief recalled that “2025 will mark 50 years of diplomatic relations between our country and China.” “I see this as an opportunity to deepen our relationship, deepen our relationship and potentially expand our trade and investment ties,” he said.
European Commission President: “It is in no one’s interest to sever ties with the global economy”
Von der Leyen said the cooperative world order believed 25 years ago “has not become reality.” – Instead, we have entered a new era of intense geopolitical competition. The world’s major economies compete for raw materials, new technologies and access to global trade routes, he said.
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“As this competition intensifies, the use of economic tools such as sanctions, export controls and tariffs will increase,” he said. But she cautioned that such a competition should not become a race to the bottom for all actors in the world. “It is in no one’s interest to sever ties in the global economy,” she stressed.
As she announced, the EC will next week present a roadmap to implement the recommendations of former European Central Bank President Mario Draghi, who warned of distress for Europe’s economy. In her opinion, the plan provides a direction for efforts over the next five years. “We will focus on increasing efficiency by closing the innovation gap,” she said.
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Von der Leyen said the Green Competition Strategy, which the EC is expected to unveil in February, aims to overcome skills and labor shortages and reduce bureaucracy. – This is a strategy aimed at accelerating growth (…). All Europeans would be able to benefit from technological change, she declared.
As she emphasized, one of the reasons for the loss of competitiveness is the rise in energy prices due to the cutoff of Russian gas supplies. The goal is to lower them.
– We will diversify our energy supply and not only expand production from renewable sources and, in some countries, nuclear energy. He also said there is a need to invest in next-generation clean energy technologies such as nuclear fusion, improved geothermal batteries and solid electrolyte batteries.
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