Industrial competitiveness refers on one side to the ability of companies to compete in domestic and global markets. On the other side, it relates to the capacity of EU countries to support the development of businesses. Competitiveness is a key determinant for growth and jobs in Europe and it is very important for small and medium-sized companies (SMEs), the backbone of the EU economy.
The European Commission places great emphasis on competitiveness, given its importance in creating jobs and growth in Europe. It works to mainstream industry-related competitiveness concerns across all policy areas.
In particular, for EU countries the focus is on ensuring that they:
On the other side, European businesses must:
These goals are achieved through a combination of EU, national and sector policies. The Commission also monitors the policies of the EU Member States and interacts with EU countries on competitiveness issues through, amongst others, the Competitiveness Council.
To support and promote industrial competitiveness, the Commission: