The European Steel Association (EUROFER) has issued a statement welcoming the European Parliament’s approval of a resolution on “building an ambitious EU industrial strategy as a strategic priority for growth, employment and innovation in Europe”.
EUROFER director general Axel Eggert stated that the resolution highlights that industry as a share of the economy has declined, as has its share of investment in research and development and in the long term this will seriously harm the prospects of the whole European economy, of which manufacturing is the backbone and it needs nurturing to grow sustainably. Mr. Eggert added that the steel sector is the foundation of the EU’s manufacturing base.
“Industrial policy needs to act as an umbrella for all legislation affecting industry, and not vice versa. Given the wide and varied range of EU policies on the environment and on employment - as well as the effects of global overcapacity in steel, the impact of unfair trading practices and uneven inter-regional investment conditions - the EU urgently needs to lay out a renewed industrial strategy that will successfully guide and support its manufacturing base for the next 10, 20 years and beyond,” concluded Mr. Eggert.