EU: European Commission Launches Simplification Strategy for Single Market

EU: European Commission Launches Simplification Strategy for Single Market

The European Commission on May 21 unveiled a new single market strategy aimed at cutting 400 million euros (about $454 million) in annual administrative costs and removing barriers that hinder trade, investment and competition across the European Union, a press release shows.

Industry sceptical on new EU single market strategy

Business sector gives cautious welcome to new Commission proposals to strengthen trade between member states on internal market.

Simplification measures to save EU businesses €400 million annually

As part of the fourth Simplification Omnibus package, the European Commission has presented measures to save EU businesses a further €400 million per year.

The EU Commission proposes to cut annual administrative costs for small and medium-sized enterprises by EUR 400 million.