12 Minutes Europe - Meeting Global Challenges

Business symposium of the Austrian Federal Economic Chamber: Competitiveness must be strengthened

On 8 April 2024, high-profile guests from business, science, politics, and media outlined how Europe can use change as a catalyst for economic growth and competitiveness in times of growing uncertainty.

Increased geopolitical tensions with critical effects on global supply chains, high energy costs and intense global competition over technology and key resources are presenting challenges for Europe. At the Austrian Federal Economic Chamber’s first business symposium "12 Minutes Europe – Meeting Global Challenges", we examined the question of how the European economy needs to position itself in order to remain competitive in the future, given the backdrop of these global challenges. 

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Renowned personalities cast light on Europe’s opportunities and challenges

In the first part of the symposium (program), high-ranking representatives from the worlds of politics, business, science and media gave insights into the current geopolitical and economic challenges. This was followed by an examination of the specific effects on the European economy.

The range of topics extended from the future of energy to financing and the necessary innovations as well as the changes in the world of work. The focus was on the opportunities and challenges for Austria (Deloitte study) and Europe ("12 Minutes Europe"-factsheet). In the end, representatives of the Austrian parliamentary parties discussed which political priorities they want to set for a economically successful Europe within the framework of the European Parliament elections.

Note: The presentations of the speakers will be made available here shortly after approval.

WKÖ-Präsident Harald Mahrer
© WKÖ/Busch

Europe must be an effective, competitive global player. We want the European success story to continue, our companies to be engines for growth and prosperitiy in and for Europe. However, there is still much to be done – because Europe's competitiveness is under pressure.

Innovation is a crucial lever for gaining competitiveness - Europe must invest more heavily in this area.

Nouriel Roubini, US-Ökonom
© WKÖ/Busch

Kersti Kaljulaid, ehem. Präsidentin der Republik Estland
© WKÖ/Busch

We have achieved a lot in Europe and should now leverage it. Particularly in three areas: Firstly, Europeans were the first to implement innovative green solutions to climate change. Secondly, Europe has created the optimal opportunity for networking all countries through digitization. And thirdly, through a special education and healthcare system, we are providing the optimal preparation for labor force and creative innovations.

We need a different mentality within Europe, one where we move away from the paralyzing requirement for unanimity, so that we can regain our ability to act and be competitive.

Karl-Theodor zu Guttenberg, ehem. Bundesminister, Bundesrepublik Deutschland
© WKÖ/Busch

More exciting events:

On 22 April, our event "Starke Forschung - starker Standort" will take place at the Austrian Federal Economic Chamber. Among others, the following speakers are expected: Minister Polaschek, Minister Gewessler, Minister Kocher, and many more.

Click here to register!

Click here to register!