Minister Urso,

Dear Emanuele Orsini,

Dear Fabrice Le Saché,

Ladies and gentlemen,

It is a pleasure to be here with two key players in Europes industry and economy. Contrary to previous beliefs, Europe has maintained its manufacturing base, which contributes around 16% to the EUs value added, supporting approximately 30 million jobs—more than double that of the US.

Our industrial strength is crucial for the future, enabling us to lead in innovation as advanced technologies reshape production. Italy and France are essential in turning Europes industrial strategy into reality, particularly in defense and energy. However, European industry faces challenges from external tariffs, trade distortions, and internal issues like high energy costs and regulatory burdens. We must advocate for our interests while addressing internal barriers. My message today is clear: Europe understands and is committed to addressing these issues.

Upon taking office, I promised to prioritize competitiveness. Weve developed a new economic and industrial strategy based on three pillars: Simplification and speed, investment and innovation, and trade and tariffs. These pillars work together to support European industry.

The first pillar focuses on improving our internal market. With nearly 20% of EU products exported, it’s vital to unlock our markets potential for a competitive advantage. Simplification is crucial; EU companies currently spend about 2% of their turnover on compliance, which is significant compared to their energy costs. Our simplification efforts aim to reduce bureaucracy while maintaining climate goals. For instance, we are exempting 90% of companies from the Carbon Border Adjustment Mechanism, minimizing the impact on small businesses while still protecting against unfair competition.

The second pillar emphasizes investment and innovation. Europe leads in research and is increasingly converting that innovation into production. Yet, barriers like high energy costs and skilled labor shortages hinder investment. We are implementing an Affordable Energy Action Plan to enhance access to low-cost energy and develop a connected internal market.

We also recognize the need for significant financing for transformational investments—estimated at over EUR 800 billion annually. Despite being the worlds best savers, companies face challenges accessing capital, especially innovative firms. We are establishing a Savings and Investments Union and a Scaleup Fund to support deep tech companies.

The third pillar addresses trade and tariffs. Businesses need certainty in transatlantic trade, particularly with the US, which accounts for 20% of our exports. We aim to stabilize this relationship while diversifying our trade with other partners. Since December, weve concluded several trade agreements with countries like Mercosur and Mexico, demonstrating our reliability and adherence to trade rules.

In conclusion, we have initiated an ambitious agenda for European competitiveness, but the real work is just beginning. Europe counts on your collaboration to ensure that industries remain: Made in Italy, Made in France, and Made in Europe.

Thank you very much, and long live Europe.