Why we need a renewed EU industrial strategy - now

Today, BusinessEurope published its “Views on a renewed EU industrial strategy”. The European Council, the European Parliament and the EU Competitiveness Council – all of them – want the European Commission to show more action now. Our new report reflects these calls and provides substance to the debate.

Markus J. Beyrer, Director General of BusinessEurope said:

“We must define ambitious strategic objectives for industry for the year 2030 urgently. Only a strong European industry will guarantee a robust European economy. The EU should renew its entire industrial strategy – now – to stop Europe’s persistent competitiveness shortfall identified in the last years.

Fast technological progress, fast-changing political and economic developments at global level, increased protectionism and the emergence of different national industrial policies are a reality today. Europe must support its industry, but not by becoming inward-looking.

An integrated EU industrial strategy should be our answer to these challenges for society and industry. It will also help us creating a more cohesive society within the European Union.”

BusinessEurope’s report shows that ‘mainstreaming of industrial competitiveness’ at EU level is not a reality yet. It provides concrete policy recommendations for short-term actions as regards EU governance and it provides recommendations for key policy areas. It also calls for the new strategy to build a long-term vision for industry in Europe that allows seizing the opportunities in the macro trends that can be identified already today in several fields including energy, circular economy, digitisation, urbanisation, and to understand their impact. A pre-requisite is the definition of ambitious strategic objectives for industry and linked services for 2030.