Regaining European industry competitiveness focus of COMPET Council

The Competitiveness Council of Ministers of the European Union, chaired by Kostis Hatzidakis, Minister for Development and Competitiveness of the Hellenic Republic, met in Brussels, on 20 February. The main item on the agenda of the Council was the competitiveness of European industry. At the initiative of the Greek Presidency, the issue of the consequences of increased energy costs was also included in the agenda.

The President of the Competitiveness Council stated at the doorstep of the Council that it is clear that the EU underestimated European Industry and we now pay the cost for this in growth and jobs. Obviously, the Greek Presidency cannot work out miracles within six months; what we can do is lay the foundation for the new European Commission that will be formed after the elections to bring forward concrete legislative proposals. These proposals must add value to European industry and solve problems such as that of high energy prices.

It is worth noting that the outcome of this discussion will feed into the debate on industrial competitiveness to be held at the next EU summit on 20 and 21 March. In addition to this, European industry will also be the subject of both the formal and informal Competitiveness Council meetings to take place in Brussels and Athens respectively, in May. Furthermore, the Greek Presidency is planning a series of conferences on restoring the competitiveness of high energy-consuming European industries, to take place in Athens in late February and early March.