EU INDUSTRIAL POLICY BEFORE THE NEW PROGRAM PERIOD 2021-2027

Abstract

The main objective of the European Union's (EU) industrial policy is to increase the competitiveness of European industry so that it can continue to play its role as a driver of sustainable growth and employment in Europe. In order to provide better framework conditions for the EU industry, different strategies have been adopted. At the beginning of the current programming period (2014-2020), the European Commission (EC) calls on Member States to recognize industry's leading role as a factor for economic growth, employment and competitiveness through measures in all policy areas. The new approach to industrial policy, formulated in the Europe 2020 strategy, aims at boosting EU competitiveness, generating growth, creating jobs and enabling the transition to low-carbon economy and efficient use of resources. The EU-prepared and European-level discussion of a "Renewed EU Strategy for Industrial Policy" of 2017 is a first step towards the development of an EU-oriented industrial strategy that needs a common approach based on the competitive advantages of the economy and businesses, taking into account the European model of high environmental and social standards and setting an ambitious long-term vision for industry over a decade and beyond a future for the benefit of citizens and the economy. Industrial policy should not protect aging businesses, but should eliminate unfair commercial practices and draw up an action plan in line with strategic objectives. It should become part of the “Sovereign Europe Program.”