Industrial policy communication update 2012
On 10 October, Commissioner Oettinger welcomed the adoption of the 2012 Industrial Policy Communication Update and its target of boosting the weight of industry in Europe from its current level of around 16 % of GDP to 20 % by 2020. While calling for a proactive European industrial policy, he stressed that this objective can be met only in the presence of a performing pan-European energy infrastructure, a functioning internal market for gas and electricity and competitive energy prices. Energy costs are a crucial competitiveness factor. European energy prices are among the highest in the world and are still increasing.
The Communication launches a new partnership between the EU, Member States and industry to favour a recovery of industrial investments and an increase of manufacturing's share in the EU’s GDP. Its four pillars are investments in innovation, better market conditions, access to capitals and boosting human capital and skills.