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Industrial revolution brings industry back to Europe

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Europe needs to reverse the declining role of industry for the 21st century with the aim to deliver sustainable growth, create high-value job and solve societal challenge that we face. Immediate action should contribute to reverse the current downward trend from its current level of 15.6% of EU GDP to as much as 20% by 2020.

"We cannot continue to let our industry leave Europe. Our figures are crystal clear: European industry can deliver growth and can create employment. Today we tabled the conditions for the sustainable industry of the future in Europe, to develop the investments needed in new technologies and to rebuild a climate of confidence and entrepreneurship. By working together and restoring confidence, we can bring back industry to Europe."

Therefore the Commission proposes a number of priority actions to stimulate investments in new technologies, to improve the business environment, to access to markets and to finance, particularly for SMEs, and ensure that skills meet industry’s needs.

Europe's industry is well placed to assume this role: 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% of both Europe's exports and of private sector R&D investment comes from manufacturing. If confidence comes back, and with it new investments, Europe's industry can perform better and start growing again. This is the core message of a communciation tabled by European Commission Vice President Antonio Tajani in Brussels today. The actions proposed by this Communication should also contribute to reduce competiveness gap across Member States and EU regions.

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