Brussels, 31/05/2006 (Agence Europe) - In the conclusions it adopted at its meeting of 29 May, the Competitiveness Council reaffirms its support for the Commission's integrated approach to industrial policy (EUROPE 9042) and stresses "the importance of a rapid and well-coordinated follow-up" to this strategy for "a successful implementation of the seven horizontal and seven sectorial initiatives", which will help to achieve the Lisbon objectives. The Competitiveness Council also lays emphasis on the importance of "combining" the two dimensions of the Union's industrial policy and welcomes the "well-balanced" working programme proposed by the Commission. It also welcomes the creation of the high-level group on competitiveness, energy and the environment (which held its first meeting on 28 February this year and is to hold its second on 2 June: EUROPE 9141), which will develop the coordination between political and legislative initiatives over the next two years, and help to improve the stability and predictability of the regulatory framework of the Union.