European industry pushes for an "Industrial Deal" to strengthen the location - reduce regulatory burdens, invest in innovation and strengthen global partnerships
As part of the Belgian EU Council Presidency, Belgian Prime Minister Alexander De Croo today presented a proposal for a new "Industrial Deal" in Antwerp in the presence of EU Commission President Ursula von der Leyen and European industry representatives. The Federation of Austrian Industries (IV) is broadly in favor of the demands made to strengthen Europe as an industrial location. "As Europe, we are losing competitiveness year after year. What is needed is a break from the bureaucratic madness and a future-oriented policy. This will enable European industry to regain momentum and not continue to be held back," says Georg Knill, President of the Federation of Austrian Industries (IV).
Reduce bureaucracy and make it more practice-oriented
Despite the 25% reduction in reporting obligations announced last year by EU Commission President von der Leyen, the current avalanche of directives threatens to degenerate into a bureaucratic monster. "Well-intentioned but poorly implemented legislative proposals, from the supply chain directive to the breakfast directive, are not getting us anywhere, but are slowing down our economic recovery, which is necessary for prosperity, entrepreneurship and jobs," says Knill. For the green transformation, companies need support instead of excessive requirements and reporting obligations.
Enabling innovation in Europe
Instead of paralyzing the economy and industry in Europe with additional regulations, it would be more important to take steps to create an innovation-friendly environment. "Europe as an industrial location needs a vision for its long-term direction. The business case for Europe must be clearly defined again so that investments are made here. In order to strengthen innovation again, the necessary framework conditions such as modern infrastructure, affordable energy, shorter approval procedures and investments in education, research and technology are required," says Knill.
Entering into reliable global partnerships
In order to avoid future dependencies, be it on rare earths or energy, the European Union cannot shy away from entering into reliable international partnerships. "Especially in times of geopolitical shifts, we need to diversify our sources of supply. To this end, we must seize the opportunities and finally conclude fair trade agreements, such as the one with the Mercosur region," says Knill. Fair trade agreements with partners all over the world have always been a key pillar of the domestic industry. "If we increasingly isolate ourselves in this respect, we will fall further behind others," concluded Knill.