Brussels, 12/11/2014 (Agence Europe) - A toolbox for a new European industrial policy has been constructed by the European Policy Centre (EPC). Industrial renaissance was the theme of a joint debate with the European Economic and Social Committee on Wednesday 12 November.
Coordinated approach. In its study published to coincide with the debate, the EPC confirms the decline of European industry, accelerated by the economic crisis since 2008 and the inadequacy of national and European responses to it. The measures taken are described as “inconsistent and weak” given the scale of the challenges to be faced by industry and the policies applied by competitors. In the light of this, the EPC recommends better coordination of approaches, both among the member states and within industry, and between public and private bodies, and even within the European Commission itself. This coordination approach should rely on clear objectives, a well-defined strategy and a mandate for the EU to act in the field of industrial policy.
Different stages. The EPC recommends a three-stage strategy, with, in the first instance, the establishment of a clear framework for the whole of the EU on smart regulation, investment in human capital, easy access to finance and enhancement of the role of public authorities. This is a prerequisite for the success of the deployment of a strategic vision. In the second stage, the emphasis should be put on a collaborative approach and on making best use of European strengths (smart specialisation, European value chain, energy single market, economic and trade diplomacy). Lastly, sophistication factors, such as innovation and development of new business models, have to be supported.
Competition. Former European internal market and industry commissioner Antonio Tajani, who is now an MEP, opened the conference by stating that industrial policy had to be modernised. He also raised the issue of competition, hinting that current European rules are not adapted to making European industry competitive globally. (MD)