Commission presents Communication for ‘European industrial renaissance’

| January 18, 2014 | 0 Comments

image-upload-612x336On 22 January, the European Commission will adopt the Communication ‘For a European industrial renaissance’, which puts the real economy and industry at the heart of the growth strategy.

The aim is to revert the industrial decline and reach the 20% target of GDP related to manufacture activities by 2020. To attract new investments and create a better business environment Europe needs more coherent policies in the field of internal market, quality of public administration, trade, research, energy or raw materials.

In addition, the new EU budget could be an essential driver for industrial innovation, competitiveness and access to finance, through the combined use of structural funds, Horizon 2020 and COSME.

Background

The Communication is the European Commission’s contribution to the European Council of February, which for the first time will be dedicated to industry.

While industrial performance has stabilised thanks to improvement in exports, industry’s share in Europe’s GDP in 2013 has further declined from 15.5% of GDP to 15.1% getting Europe far from the 20% target. This decline could seriously hamper EU growth potential, as 80% of innovation, ¾ of exports and several jobs directly depend on industry.

The industrial Competitiveness reports recently published by the European Commission highlight that one of the root of the crisis is the growing competitiveness gap between European economies. In several member States obstacles still remain, such as high energy prices, administrative burden, late payments, access to finance, innovation capacity, and lack of skills. Moreover, access to the EU and international markets should be improved. Only by overcoming these hurdles can the EU achieve the sort of industrial competitiveness it needs in the 21st century.

For more information, click here.

Without a strong industrial base, Europe’s economy cannot prosper

I-078985 EU:Industrial Policy – 2013

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Category: A Frontpage, EU, European Commission, Industry