Rising material costs and high energy prices are making it hard for EU manufacturers to stay competitive on the global market. Electricity prices in Europe are 2-3 times higher than those in the US which means higher investment costs for EU manufacturers compared to global competitors. Additionally, the global supply of critical raw materials is concentrated in just a few regions, exposing the EU to price fluctuations, supply chain disruptions, and potential geopolitical leverage. This states a clear need for diversified supply chains, new and existing trade relationships to ultimately increase critical raw material extraction and recycling in the Region and abroad. We call for stronger alignment of policies with decarbonisation goals to enable Europe to lead the #techrace, ensuring a competitive and sustainable future for European manufacturers. 💡Find out more: https://lnkd.in/dWtAxXer
Director General, APPLiA
20hMy Christmas wish is that Europe becomes the place to be for citizens to prosper in harmony with nature. In APPLiA - Home Appliance Europe words, that can happen if we all reflect on what makes us prosper respecting our environment. Merry Christmas!