German, French ministers aim to boost EU competitiveness with new format

By Christian Kraemer

BERLIN, Jan 27 (Reuters) - Finance ministers from Germany and France want to strengthen competitiveness within the EU by introducing a new format of the bloc's six leading economies, a letter from the German minister seen by Reuters showed.

EU economies are trying to reduce their dependence on imported critical raw materials from countries including China and to tackle fears that trade tariffs and the fragmentation of global markets could undermine growth and investment.

"To survive in an increasingly unpredictable geopolitical situation, Europe must become stronger and more resilient," wrote Lars Klingbeil in a letter to his counterparts dated on Monday, adding that continuing as before could not be an option.

He and the French finance minister have invited partners in Poland, Spain, Italy and the Netherlands to a video conference on Wednesday to start a new forum for discussion.

The aim is to clarify how European measures can be accelerated and made more ambitious, wrote Klingbeil.

Specific goals include creating better financing conditions for new, fast-growing firms, strengthening the euro as a safe haven, better coordinating European defence spending and making supply chains more resilient, he added.