The economics ministers of the 17 members of the Central European Initiative (CEI) have underscored the importance of structural reforms for the acceleration of economic growth in Europe.
In their round table meeting that was aimed at exchanging experiences on industrial policy, the ministers made a point of highlighting the need for continued structural reforms in Europe.
Outgoing Slovenian Economics Minister Matej Lahovnik, who chaired the debate, stressed that these types of exchanges on industrial policy are one of the fundamental features of the Lisbon Strategy.
In his address, Lahovnik underscored that there is no magic formula to achieving the Lisbon Strategy's goal of making the EU the most dynamic global economy.
Each country, said Lahovnik, faces their specific economic problems, which means that improvements must be made taking into account the unique features of each country.
The participants pointed to the need to promote competition and innovation as a means of boosting economic growth. Many of the participants stressed the need for greater investments in research and development and a better link between the economy and science.
Agreeing that the aims of the Lisbon Strategy are not being met in line with plans, the ministers were unanimous in saying that more attention needed to be paid to fulfilling the strategy in the future.
According to Italy's representative Amadeo Teti, the EU will have to examine the feasibility of some of its regulations dealing with budget spending if it wishes to promote the goals of the Lisbon Strategy.
Austria's representative Joef Mayer pointed to the need to promote investments, competition and sustainable development in the EU. Moreover, he said more attention needed to be paid to corporate excellence policies.
The CEI countries which are hoping to join the EU in the future, on the other hand, reiterated their commitment to carrying out the necessary reforms that will allow them to fulfill criteria for membership.
According to Bulgaria's Deputy Economics Minister Evgenija Koldanova, countries should do more to tear down administrative barriers to enterprise, while also reducing the tax burden on business. This view was echoed by Romanian Minister for Economics and Trade Marian Lupu.
Apart from the economics ministers and their deputies from the 17 CEI member states, round table meeting was also attended by representatives of the European Bank for Reconstruction and Development, the European Commission, the European Investment Bank, the Stability Pact for SE Europe and the UN Economic Commission.
The round table wrapped up proceedings at the CEI Economic Forum that saw the attendance of more than 1,500 participants.
Along with Slovenia, the CEI is made up of Austria, Albania, Belarus, Bosnia-Herzegovina, Bulgaria, the Czech Republic, Croatia, Italy, Hungary, Macedonia, Moldova, Poland, Romania, Slovakia, Ukraine and Serbia-Montenegro.
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