Mission Growth: EU Reinforces Industrial Policy
WASHINGTON, Oct. 10, 2012 /PRNewswire-USNewswire/ -- The European Commission announced today priorities to boost industry growth in Europe, rebuild a climate of confidence and entrepreneurship, and to ensure the long-term competitiveness and sustainability of Europe's industry.
"We cannot continue to let our industry leave Europe," said European Commission Vice President Antonio Tajani, Commissioner for Industry and Entrepreneurship. "Our figures are crystal clear: European industry can deliver growth and can create employment... By working together and restoring confidence, we can bring back industry to Europe."
The reinforced industrial policy seeks to stimulate investments in new technologies, improve the business environment, access to markets and finance, particularly for small and medium size companies, and ensure that skills meet industry's needs.
Europe is a world-leader in many strategic sectors such as automotive, aeronautics, engineering, space, chemicals and pharmaceuticals. Industry still accounts for 4/5 of Europe's exports and 80 percent of private sector R&D investment comes from manufacturing.
SOURCE Delegation of the European Union to the United States