EU industrial strategy: After Member States, EU Commission must act
The EU Competitiveness Council conclusions on “A future EU industrial policy strategy” are a strong political signal that the status quo is not trusted to lead to a revival of the EU’s industrial base. Despite more positive headline economic figures, EU industry still faces severe handicaps to perform on global markets. The EU’s share in global manufacturing exports declined by nearly 7% since 2004, by far the sharpest loss of global trade in manufactured goods.
Markus J. Beyrer, Director General of BusinessEurope said:
“Today’s conclusions of the Competitiveness Council are an important milestone. It shows how serious Member States are on the importance for the EU to re-launch an industrial strategy. We are extremely grateful that the Maltese EU presidency put so much effort into this process. Now we expect a determined follow-up from the European Commission”.
“The EU needs a dedicated plan that builds on the already ongoing industrial transformations, and is mindful both of the several challenges at hand for industry, but also the opportunities this process creates. A comprehensive strategy combining short-term policy measures as well as medium to long term strategic objectives is the only option to solve Europe’s persistent competitiveness shortfall”.