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How to tackle challenges in a future-oriented EU industrial strategy?

27.09.2019

How to tackle challenges in a future-oriented EU industrial strategy?

The  study  titled "How to tackle challenges in a future-oriented EU industrial strategy?" provides a critical assessment of the 2017 EU industrial strategy and of the policy measures it comprises. Even though the EU industrial strategy is still a “meta- policy”, it successfully promotes a more integrated and innovative approach. However, it should more clearly identify mission-oriented strategic goals and mobilise the necessary effort and means to reach them. This document was provided/prepared by Policy Department A at the request of the Industry, Research and Energy Committee.

In the near future, EU industrial strategy will face challenges (“megatrends”) from multiple sources: technological changes, socio-political changes (including globalisation and geopolitics) and climate change. EU-specific events (the next budget, Brexit, etc.) will also contribute to shaping the contours of the next EU industrial policy. All these factors will represent threats and/or opportunities, depending on the capacity of the EU industrial policy strategy used to address them. Whether the EU industrial policy strategy is fit to address these future challenges is assessed against four criteria, dealing with the capacity of the strategy to:

  • Set long-term strategic objectives;
  • Propose an integrated (coherent and coordinated) framework;
  • Account for territorial specificities;
  • Adopt an effective governance framework and consolidate policy capacity.

For the time being, the EU industrial strategy is still a “meta-policy”, established on the basis of a set of existing policies. As a matter of fact, there is little in terms of an effective EU-wide coordination mechanism to combine the different available sources of funding into an integrated set. However, there is evidence that the EU industrial strategy is acquiring its own fully fledged status and that an integrated approach is being developed, which contributes to finally breaking the “silos” between policy areas and measures. The value chain approach is instrumental in this respect.

Source and copy right: European Parliament