In his speech, EU Trade Commissioner Maroš Šefčovič highlighted the crucial role of trade for Europe’s prosperity. In Sweden, for example, over 844,000 jobs are linked to international trade, equivalent to one in six jobs. At the EU level, trade supports more than 30 million jobs, and over half of the Union’s GDP depends on international trade. At the same time, Europe faces a new reality. Geopolitical tensions, the energy crisis, and vulnerable supply chains have highlighted the risks of unilateral dependencies. Experiences such as the reliance on Russian gas have prompted increased focus on diversification, resilience, and economic security.
Despite these challenges, Šefčovič emphasized that Europe remains the world’s largest trading actor with the most extensive network of free trade agreements, over 70 globally. The EU is now actively working to further develop these relationships with ongoing or recently concluded negotiations with Mercosur, Mexico, Indonesia, and India, as well as new initiatives in digital trade.
Simultaneously, attention is turning inward.
To strengthen Europe’s competitiveness, the need for a more efficient internal market was highlighted. Initiatives such as “One Europe, One Market” and the proposed “28th Regulatory Framework” aim to simplify operations for companies, particularly small and medium sized enterprises, allowing them to grow and operate across national borders within the EU.
During the subsequent panel discussion, it became clear that this balancing act is also reflected in business realities. Company representatives stressed that predictability, faster implementation, and reduced regulatory burdens are crucial for competitiveness. Despite significant investments in areas such as infrastructure and the green transition, implementation often remains the biggest bottleneck. The importance of better integrating the services sector into trade policy was also emphasized. Today, services constitute Europe’s largest and fastest growing sector, yet they still receive limited attention in many trade discussions.
From the political side, the importance of continuing to defend free and fair trade was underscored while managing relationships with key partners such as the US and China pragmatically. A key conclusion from the day was that Europe cannot choose between openness and security, it must manage both simultaneously. Europe’s future competitiveness will depend on the ability to combine open markets with increased resilience, where diversified supply chains, a strong internal market, and robust international partnerships play a decisive role.