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An industrial vision for the EU
Industry is a critical sector for the European economy, contributing 16% value to total European Gross Domestic Product (GDP). Manufacturing complexity is an important predictor of how well an economy will perform in the future. Evidence shows that there is a direct correlation between the size of the manufacturing industry and innovation. It is also a significant sector for European trade, with 80% of exports coming from industry. An industrial strategy that lays the groundwork for the EU manufacturing industry to project itself into the future is therefore paramount.
AmCham EU has a vision for the future of industry in Europe. We highlight four key priorities for the future industrial strategy of the EU:
Digitising European industry: Fostering investment and innovation in people, technologies and processes
Creating the right environment for a clean future
Accelerating the EU circular economy
Reinforcing the rules-based trading system, and reinvigorating the transatlantic partnership
With these priorities at the core of the EU’s industrial strategy, we believe EU industry can thrive long into the future, by remaining globally competitive and delivering sustainable growth.
Read our full position paper:
An Industrial Vision for the EU – Pathways towards ensuring a comprehensive European industrial strategy
Focusing on the switch to digital will ensure that industry remains as efficient and cost-effective as possible, while re-skilling and upskilling of the workforce will prepare employees for the workplace of the future.
Decarbonising manufacturing processes will be a key driver in the transition towards a carbon neutral economy.
Industrial expertise is essential to achieve a circular economy and waste elimination objectives.
Reinforcing the multilateral trade order by defending the rules-based system and its institutions (the WTO), will ensure the global demand for products and services that European industry outputs.