EU ‘on cusp’ of losing hold as major industrial power

The Cefic president, who was speaking at a debate that took place during an EU Competitiveness Council meeting, said other global regions are growing faster, offering cheaper raw materials and feedstocks, and “aggressively” promoting their own chemical manufacturing.

He said Europe’s heavy industries need a clear sign from policy-makers in Brussels that include “favourable conditions” to repatriate investment.

“In times of political and economic uncertainty we need ambitious EU institutions and leaders who are willing to take bold decisions to restore and enhance Europe’s competitiveness.

“The European chemical industry stands ready to support EU decision-makers in this endeavour because we share a common goal – to secure a stable political framework and maintain a sustainable, competitive chemical industry in Europe,” Kottman said.

As a result of the perceived threat, the Competitive Council is now encouraging the European Commission to draft a new industrial strategy.

EU commissioner Elzbieta Bienkowska said the time had come to have a European vision for industry.

“Smart and innovative industry is extremely important for Europe and we have to be in the avant-garde of developments. We need to keep industry and production here in Europe.”