Honorable Minister of Foreign Affairs,

Esteemed ambassadors,

Ladies and gentlemen,

I wish to start by thanking Ambassador Ana Paula Zacarias for the invitation to this session, alongside State Secretary Inês Domingos. This is my inaugural public speech as European Commissioner and it is a pleasure to deliver it in Portugal before such a distinguished audience. Our global ambassadors are critical channels for conveying both national and European policy information.

Today, the world faces immense challenges that were unimaginable not long ago. Nationalisms, protectionism, and recent crises like COVID and the Ukraine conflict threaten our system. In this context, diplomacy is more crucial than ever.

The economic challenges demand an equitable, integrated EU economic approach, and a reconsideration of our financial models. Ursula von der Leyens pledge to center the Commission on Investment highlights the finance sectors pivotal role.

Global power shifts and changing trade patterns compel us to adapt for competitiveness and strategic dependency reduction. The recent Mercosur agreement exemplifies this positioning.

Success requires a more inclusive and equitable society. Fighting poverty and inequality and shaping inclusive policies are paramount. The EUs future depends on our commitment to shared values.

Unconditional support for Ukraine reflects our democratic and freedom values. Under my leadership, alongside the High Representative, maintaining effective sanctions is crucial.

Facing these challenges requires collaboration with partners and states to address climate crises, share best practices, and support vulnerable nations.

Mobilizing private capital is essential for driving the green, digital, and social transitions that can enhance our competitiveness.

The European Commission will soon introduce the More Competitiveness Compass to implement Draghis recommendations through tangible initiatives.

A unified capital market can drive innovations and investments to strengthen the EU economy.

In conclusion, a strategic, multidimensional approach is needed to promote economic integration and consumer confidence.

Thank you.