Archive:Industry and construction introduced

In its mid-term review of industrial policy (COM-2007, 374, the European Commission (EC) identified globalisation and technological change as key challenges for European industry. Industrial policy within the European Union (EU) is designed to complement measures taken by the Member States. Whether or not a business succeeds depends ultimately on the vitality and strength of the business itself, but the environment in which it operates can help or harm its prospects, in particular when faced with the challenges of globalisation and intense international competition.

A Communication on industrial policy in 2005 was based for the first time on an integrated approach; addressing sector-specific as well as common issues. Since this date, the overall performance of European industry continued to develop favourably against a background of an increasingly integrated world and the accelerating pace of technological change. The Commission’s new industrial policy includes seven new initiatives on competitiveness, energy and the environment, intellectual property rights, better regulation, industrial research and innovation, market access, skills, and managing structural change. Seven additional initiatives are targeted at key strategic sectors, including pharmaceuticals, defence-related industries, and information and communication technologies.