EUROFER welcomes European Parliament Resolution on industrial policy

Brussels, 5 July 2017 – The European Parliament today approved a Resolution on ‘building an ambitious EU industrial strategy as a strategic priority for growth, employment and innovation in Europe’. The steel sector is the foundation of the EU’s manufacturing base, and so the European Steel Association (EUROFER) welcomes this call. The development of a coherent strategic approach to the management of Europe’s industry is the key to securing growth and employment for the future.

“The Resolution highlights that industry as a share of the economy has declined, as has its share of investment in R&D. However, in the long term this will seriously harm the prospects of the whole European economy. Manufacturing is the backbone of the economy and it needs nurturing to grow sustainably”, said Axel Eggert, Director General of EUROFER.

The Resolution seeks to tie together many of the key policy areas that affect the European steel industry. These include the Paris Agreement and greenhouse gas emissions reduction management, the circular economy, free and fair trade, and the investment environment.

“Today’s Resolution follows on from the European Council’s conclusions on industrial policy of 15 December 2016. It builds on the efforts now-President Tajani made when he was Commission Vice-President responsible for industry. We hope that the current European Commission will seize the opportunity to present an updated strategy with tangible proposals”, added Mr Eggert.

“This Parliamentary term began with the Commission promoting the concept of ‘Better Regulation’. Better regulation forms the core of a functional industrial strategy as it ensures that the cumulative cost burden of legislation is considered as a whole, and the various elements – economic, environmental and social – are included in creating a plan for European industry”, emphasised Mr Eggert.

“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.

European Parliament Resolution on building an ambitious EU industrial strategy as a strategic priority for growth, employment and innovation in Europe

The European Parliament Resolution can be found: here

About the European Steel Association (EUROFER)

EUROFER is located in Brussels and was founded in 1976. It represents the entirety of steel production in the European Union. EUROFER members are steel companies and national steel federations throughout the EU. The major steel companies and national steel federations in Switzerland and Turkey are associate members.

About the European steel industry

The European steel industry is a world leader in innovation and environmental sustainability. It has a turnover of around €170 billion and directly employs 320,000 highly-skilled people, producing on average 170 million tonnes of steel per year. More than 500 steel production sites across 22 EU Member States provide direct and indirect employment to millions more European citizens. Closely integrated with Europe’s manufacturing and construction industries, steel is the backbone for development, growth and employment in Europe.

Steel is the most versatile industrial material in the world. The thousands of different grades and types of steel developed by the industry make the modern world possible. Steel is 100% recyclable and therefore is a fundamental part of the circular economy. As a basic engineering material, steel is also an essential factor in the development and deployment of innovative, CO2-mitigating technologies, improving resource efficiency and fostering sustainable development in Europe.