Mario Draghi, the former President of the European Central Bank, is set to present a comprehensive report on European competitiveness this coming Monday.

This report, which was originally scheduled for release in June, is expected to significantly influence discussions on EU competitiveness, a key priority for the new European Commission taking office later this year.

Commissioned by the European Commission a year ago, the report aims to address how the EU can maintain a competitive green economy amid rising global tensions with rivals such as China and the United States.

The timing of the report is critical, as the EU is currently facing a loss of competitive edge in the global market.

In a closed session with EU ambassadors and parliamentary leaders, Draghi emphasized the necessity for the EU to accelerate the digitalization of its economy and called for unprecedented collaboration among EU institutions and strong private sector involvement.

While Draghi highlighted the challenges facing the bloc, he refrained from disclosing specific solutions that will be included in his upcoming report.

He pointed out that the EU is lagging behind global competitors due to limited innovation, high energy prices, and skills gaps.

The report will conclude with recommendations for ten major economic sectors and advocate for a more effective EU response to competitors who do not adhere to traditional global trade rules.

Anticipated to be around 400 pages long, the document will explore the EU's productivity gap compared to its competitors and the need to reduce dependencies on critical resources like battery minerals from China.

Ultimately, the report aims to tackle the challenges the EU faces in regaining its competitive advantage against rivals like China and the United States.

The findings and recommendations from Draghi's report will be crucial for informing the new European Commission's decisions on necessary measures for the EU industry.