EU must push for ‘Made in Europe’ strategy, EU industry chief says
February 2 (Reuters) – Europe should protect its industries with a “Made in Europe” strategy, EU industry chief Stephane Sejourne said in a newspaper article published late on Sunday and co-signed by more than 1,100 CEOs and other business leaders.
“Without an assertive, effective and pragmatic industrial policy, the European economy is doomed to become a mere playground for its competitors,” Sejourne said in its article published in newspapers across Europe.
“We must firmly establish a real European preference in our most strategic sectors,” said the French member of the European Commission.
The article was co-signed by CEOs from a wide range of industries, including steelmakers ArcelorMittal, ThyssenKrupp and TataSteel, pharmaceutical manufacturers Novo Nordisk and Sanofi, tire makers Continental, Michelin and Pirelli, airline group Air France KLM and French utility Engie.
Automobile manufacturers were not included in the list.
Sejourne’s opinion piece comes ahead of the Commission’s proposal to implement the Industrial Accelerator Act later this month; This law will likely set requirements to prioritize locally produced products.
While the proposal is an attempt to boost European industries in the face of cheaper imports from China, it has divided EU countries.
Governments including France are championing the idea, but others, including Sweden and the Czech Republic, warn that “buy local” requirements could deter investment, raise prices in government tenders and harm the EU’s global competitiveness.
Sejourne said Europe’s best answer “can be summed up in three words: ‘Made in Europe.'”
“The Chinese are using ‘Made in China,’ the Americans are using ‘Buy American,’ and most other economic powers have similar plans that prioritize their own strategic assets. So why not us?” he said.
“Every time European public money is used, it must contribute to European production and quality jobs.”
(Reporting by Bart Meijer, additional reporting by Foo Yun Chee and Julia Payne; Editing by Cynthia Osterman, Lincoln Feast and Gareth Jones)
