EU leaders are convening at the historic Alden Biesen castle in Belgium for a 'reflection meeting' initiated by Council President António Costa. The gathering, aimed at addressing the EU's ability to maintain strength in the face of various global threats from both eastern and western powers, focuses specifically on improving the bloc's competitiveness. Prime Minister Ulf Kristersson noted the importance of free trade agreements, simplification agendas, and energy policies as critical areas for discussion.

A pivotal aspect of the meeting will include insights from Mario Draghi, former President of the European Central Bank, who has prepared a report highlighting essential strategies for boosting EU competitiveness. Leaders will explore how to enhance the EU's internal market and reduce reliance on major external powers, underlining a collective goal to strengthen the economic framework and facilitate increased trade and investment within Europe.

The implications of this meeting are significant, as strengthening the EU's internal market and creating less complex regulations could enhance its resilience against geopolitical threats. The emphasis on fostering more trade and investments is also timely, considering the current global economic landscape that poses challenges to EU economies. Ultimately, the outcome of this summit will play an essential role in shaping the future of economic cooperation and strategic autonomy within the EU.