A new framework to rekindle economic productivity and secure the EU’s competitive edge has been presented by the European Commission. builds on the recommendations set out in Mario Draghi’s report on the future of European competitiveness. It will steer the EU’s work on competitiveness over the next five years and translate the report’s recommendations into concrete actions for the EU’s future prosperity.  

The EU enjoys a strong system of rights and values, a Single Market, top-notch infrastructure and a skilled workforce, but the Compass recognises that more must be done to ensure Europe keeps pace with other major economies in a challenging and increasingly competitive world. While all the time looking to secure the EU’s climate neutrality, it sets a path for Europe to become the place where future technologies and clean products are invented, manufactured, and put on the market. 

The Compass identifies 3 core areas of action: 

Underpinning these actions will be five cross-cutting activities: 

• through a Union of Skills  
• by introducing a Competitiveness Coordination Tool 

The Competitiveness Compass is the first major initiative of the Commission in the 2024-2029 mandate. 

Strengthening European competitiveness 

Draghi report 

Communication - A Competitiveness Compass for the EU 

A factsheet on the Competitiveness Compass 

Press release: An EU Compass to regain competitiveness and secure sustainable prosperity