Mark Spelman, member of the World Economic Forum Global Agenda Council on Europe, says that Europe needs to make it easier for economic activity to take place across national borders.
Writing in an opinion-piece on the Euractiv website, he says the EU needs to work to complete the single market in order to boost external investment, increase GDP and create new jobs.
He says that the single market is one of the EU’s major successes, but there are still barriers do doing business between EU countries in addition to barriers within many sectors, where regulations and markets are fragmented.
“At a time of low – or even zero – growth in many EU countries, it is crucial to keep focusing on realising the benefits that a completed single market can offer,” he says.
He estimates a single market for services would result in gains of €60-140 billion and generate more than 600 000 jobs. Other priority areas for harmonisation are the digital and energy markets, he adds.