Brussels: Europe and the Arabs

European Union leaders have received an invitation from President António Costa to attend a summit to be held next week at the Alden Bezen Castle in Belgium, specifically on the 12th of this month. The EU institutions in Brussels published the text of the invitation, which reads as follows: “I would like to invite you to an informal meeting of leaders, to be held on February 12, dedicated to strengthening the Single Market in a new geo-economic context. Last year, I dedicated an informal brainstorming session for leaders to the topic of defense, and this meeting contributed significantly to building a defensive Europe. In 2026, I would like us to offer the same political support in the area of ​​competitiveness. In the current geopolitical environment, strengthening our Single Market is, more than ever, a strategic imperative. The Single Market has the potential to be a powerful engine for simplifying procedures for both citizens and businesses. We need to do more to effectively reduce national barriers and make the regulatory framework – at all levels, including the European level – more conducive to investment, innovation, and business growth. For example, by establishing a system The new Regulation 28 helps companies expand, including by reducing administrative burdens. Accelerating the creation of a savings and investment union, to better channel savings towards productive investments in Europe, is also a key element of this endeavor.

Besides the need to deepen, harmonize, and further integrate our single market, many of our companies in key sectors such as digital, telecommunications, capital markets, and energy lack the scale to achieve the levels of investment and innovation required in the global market. In these cases, integration into the single market, allowing competitive companies across the EU to expand, is essential to competing successfully globally. This endeavor must always be accompanied by ensuring the availability of affordable and secure services for our citizens and industries.

Europe is open to trade. The EU has rightly continued to promote its trade diversification agenda, most recently with India, a major economic power. But our openness should not be mistaken for vulnerability. Europe must accelerate its ambitious trade agenda and protect its companies from unfair competition by providing targeted safeguards in strategic sectors. This equation must include rules that allow By granting European preference in certain strategic areas, and by adopting a systematic approach to mitigating economic risks.

I would like to structure our discussion around two main dimensions:

First, the geo-economic context. How should the EU position itself in a world characterized by increasing—and often unfair—economic competition and trade imbalances? What are the best ways to counter economic coercion and reduce economic dependence, particularly in areas such as vital raw materials and technology? What opportunities does this challenging environment present for strengthening Europe’s strategic autonomy?

Second, our internal strategy and policies. What are our main priorities for deepening and completing the Single Market? How can our companies achieve optimal size in the Single Market to boost investment and innovation in key sectors? How can we provide a more business-friendly regulatory environment, and how can the Business Formation and Operation (BPO) system (Regulation 28) contribute to this goal? How do we strengthen our capacity to counter economic dependence and protect our companies from unfair competition?

I have invited Mario Draghi and Enrico Letta to join us to share their insights on European competitiveness and how it has evolved since the publication of their seminal reports. The President has also been invited. Former European Central Bank President Mario Draghi and former Italian Prime Minister Enrico Letta, who in 2024 prepared two advisory reports on enhancing the competitiveness of the European Union and reforming the Single Market.

Regarding today's program, we will begin our meeting at 10:30 with an exchange of views with the President of the European Parliament. We will then discuss with Mario Draghi the impact of the new geopolitical and economic environment on the competitiveness of the European Union, followed by lunch focusing on the same topic.

In the afternoon, we will have a dialogue with Enrico Letta on how to leverage the potential of our Single Market in a rapidly changing world. In the closing working session, which is expected to conclude by 18:30, we will focus on how to use and develop the tools and policies available to us, including the Single Market, to enhance the competitiveness of the European Union.

I intend to incorporate the results of these informal discussions into the preparations for and final conclusions of the formal European Council meeting in March.