Today, Im presenting the Simple Market Package to make business in Europe simpler and seamless, without compromising our unique social and environmental standards. Businesses must Europeanize before internationalizing in todays geopolitical climate. The Single Market is a crucial competitive tool we control, offering autonomous action for Europe.

This strategy integrates the Single Market further, balancing it with external protection. It mirrors customs union reform, urging member states to expedite key reforms. We propose a shift from a horizontal to a sectoral approach, addressing sector-specific barriers to Europeanization.

The Single Market is the best refuge in current uncertainty, with intra-EU market barriers equating to significant tariffs on goods and services. Political will from member states can drive change.

Our new approach is concrete, focusing on ten main barriers with specific solutions, especially in impactful services like construction and finance. Simplifying rules for SMEs and ETIs and making the market accessible for consumers with digital solutions are priorities.

We emphasize national governments roles as co-pilots, with state-specific recommendations and a Single Market sherpa for political elevation. Rigorous infraction procedures will follow if collaboration fails.

Examples include harmonizing professional recognition and labeling to simplify processes and reduce costs. We propose a 28th regime for easier market entry and a digital transformation of the market.

In standards, we reserve the right to set them for timely industry adaptation. These measures, alongside telecom laws and construction service availability, aim to unlock the Single Market.

Additionally, we define small midcaps for tailored support, aligning them with SMEs where beneficial, ensuring fair competition without stifling growth.

With the Simple Market Package, we implement the Competitiveness Compass, promoting Single Market harmonization and business predictability. We restore the markets momentum, simplicity, and power, relying on colleagues commitment as the internal market concerns everyone.

Thank you.