EU – Baltic States, Good for Business, Industry, Investments, Markets and Companies, Modern EU

Introducing the renewed EU Industrial Policy Strategy, Commission Vice-President for Jobs, Growth, Investment and Competitiveness Jyrki Katainen said that “by embracing technological change, converting research investments into innovative business ideas, and continuing to pioneer the low-carbon and circular economy we will pave the way for a smart, innovative and sustainable industry in Europe”.

Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, Elżbieta Bieńkowska added that “many European industries were at a turning point” and that the main direction for improvements in industrial policy was about “empowering member states’ industries to continue delivering sustainable growth and jobs”. 

Introduction

European industry has quite strong positions in many sectors of the global markets. Industry accounts for two thirds of the EU's exports and provides jobs for 32 million people, with 1.5 million of these jobs created since 2013.

Commission industrial policies are geared towards creating additional jobs, boosting Europe’s competitiveness, fostering investment and innovation in clean and digital technologies and defending EU regions and workers affected by industrial change. Therefore, vital modernization efforts are required in order to maintain and reinforce its competitive advantage.

Newly introduced production technologies are changing Europe's industrial landscape and play increasingly important role in determining the ability of European business to compete globally. These technologies will be delivering higher productivity which could benefit the wider economy. Besides, they might also have a deeper impact on the nature and availability of work. The future of Europe's industry will depend on its ability to continuously adapt and innovate by investing in new technologies and embracing changes brought on by increased digitisation and the transition to low-carbon and circular economy. At the same time, global competition is growing fast and the benefits of globalisation and technological progress are unevenly spread across the EU member states. 

Main elements in the new EU Industrial Policy Strategy

These elements include the following initiative adopted in autumn 2017:

A comprehensive package to reinforce EU industry’s cybersecurity. It includes the creation of a European Cybersecurity Research and Competence Centre to support the development of technology and industrial capabilities in cybersecurity, as well as an EU-wide certification scheme for products and services, recognised in all EU states.

A proposal for a Regulation on the free flow of non-personal data that will enable data to circulate freely across borders, helping to modernise industry and create a truly common European data space.

A new series of actions on circular economy, including a strategy on plastics and measures to improve the production of renewable biological resources and their conversion into bio-based products and bio-energy.

A set of initiatives to modernise the Intellectual Property Framework, including a report on the functioning of the Directive on the enforcement of intellectual property rights and a Communication on a balanced, clear and predictable European licensing framework for Standard Essential Patents.

• An initiative to improve the functioning of public procurement in the EU, including a voluntary mechanism to provide clarity and guidance to authorities planning large infrastructure projects.
• Extension of the “Skills Agenda” to new key industry sectors, e.g. construction, steel, paper, green technologies and renewable energies, manufacturing and maritime shipping.
• A strategy on sustainable finance to better orient private capital flows to more sustainable investments (for early 2018).
• Initiatives for a balanced and progressive trade policy and a European framework for the screening of foreign direct investments that may pose a threat to security or public order.  
• A revised list of critical raw materials where the Commission will continue to help ensure the secure, sustainable and affordable supply for the EU manufacturing industry.
• New proposals for clean, competitive and connected mobility, including tightened CO2 emissions standards for cars and vans, an Alternative Fuels Infrastructure Action Plan to support the deployment of charging infrastructure, and actions to foster autonomous driving.

Putting this holistic strategy into practice is a shared responsibility by the EU institutions and the member states. It is evident that the strategy’s success depends on the efforts and cooperation of the EU institutions, the member states, regions and most importantly on the active role of industry itself.

Conclusion

In various Commission’s guidelines, it was underlined the importance of a strong and high performing industry for the future of EU’s economy. Thus the creation of jobs and growth through innovation and investment has been at the centre of EU policies: e.g. the Investment Plan for Europe and the Capital Markets Union, which both helped to mobilise resources to boost economic recovery. Besides, the EU support for innovation has helped industry and in particular SMEs to increase efficiency. Therefore, the EU is at the forefront of the global push for a low-carbon and circular economy through circular economy, clean energy and low carbon economy. All these efforts, including key enabling technologies, Digital Single Market Strategy, digitalisation efforts in industries, to name a few could help industry compete globally. “New Skills Agenda for Europe” helps to equip people working in industry with better and more adequate to globalisation challenges skills.

These horizontal policies that concern all industries are complemented by a number of specific policies for strategic sectors, including a wide range of initiatives for clean, sustainable and competitive car industry (including the “Europe on the Move” initiative, actions to reduce air pollution by transport, GEAR2030 action and a Communication on steel) to ensure Europe's steel industry can compete fairly in world markets. 

More information in the following web-sites: = State of the Union 2017 web page; = The 10 political priorities of the European Commission; = Factsheet "A holistic strategy and a strong partnership in a new industrial age"; = Factsheet "Making Europe's industry stronger: Key Commission initiatives"; = Stockshots; = A Renewed Industrial Policy Strategy for Europe; = Annex – Next steps on key actions; = 2017 list of Critical Raw Materials for the EU.

Reference: http://europa.eu/rapid/press-release_IP-17-3185_en.htm?locale=en