Justice minister Tuzson: Europe is in big trouble, its competitiveness is lagging behind that of the US and China

Justice Minister Bence Tuzson said in Budapest on Monday that Europe “is in big trouble” and that its competitiveness is lagging behind that of the US and China. This was ahead of a conference on competitiveness held in the framework of Hungary’s EU presidency.

Speaking ahead of the conference entitled Legal Competitiveness—Instruments of Law for a more Competitive Europe, which will be held in downtown Várkert Bazar from 11 to 12 November, Tuzson said the Hungarian presidency focused on competitiveness and saw legal and legislative work as of primary importance within that topic. The timing and structure of regulations are fundamental factors in competitiveness, and it is important that the issue is addressed on a European level, he said.

Tuzson lamented the EU’s “tunnel vision” regarding legislation’s impact on competitiveness. As an example, he pointed to GDPR’s effect on SMEs in the EU, saying they were at a competitive disadvantage compared with companies in third countries “to whom GDPR doesn’t apply and so they can be more competitive.”

Tuzson said the EU is also behind in digitalisation and AI, adding that they would be important tools in legal work.

“The EU still has a chance, but we are in the last minute” to catch up with competitors posing “an enormous global challenge” for the EU, he said, adding that the Hungarian presidency was working to facilitate that process.

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