How the EU is involved in the European Industrial Policy
Industry is the backbone of the European economy, accounting for 80% of Europe’s exports and private innovations, and providing high-skilled jobs for citizens. However, the recent economic crisis has led to a further decline in manufacturing to 15% of GDP.
The Commission is working towards an 'industrial renaissance' that requires the modernisation of Europe’s industrial base across all industrial sectors. The aim is that industry accounts for approximately 20 % of GDP by 2020, from 15.1 % currently.
The EU Industrial policy aims to stimulate growth by:
The EU Industrial policy aims to stimulate growth by:
- enhancing industrial competitiveness by implementing a range of measures and policy actions. Of particular importance are the EU Competitiveness Report and Member State Competitiveness Report - which assess competitiveness at EU and Member State level;
- promoting innovation through the Horizon 2020 programme and targeted policy action to support high-potential sectors such as Key Enabling and digital technologies, advanced manufacturing and smart specialisation;
- generating Single Market policies and proposals of legislation on protection and enforcement of industrial property rights and coordinating the EU position and negotiations in the international intellectual property rights (IPR) system (namely at the World Intellectual Property Organization), as well as assisting innovators on how to effectively use IP rights, fundamental for ongoing global and increasingly knowledge-based competitiveness;
- promoting sustainability objectives for the European economy;
- emphasising the need for cooperation and coordination between the Commission and EU countries, as well as international aspects;
- promoting corporate social responsibility in the EU and encouraging enterprises to adhere to international guidelines and principles.
