European industry leaders call for ‘urgent action’ to restore competitiveness

Antwerp, Belgium – European industry leaders have called for urgent ‘concrete actions’ to restore the competitiveness of the region and “create stronger business case” in Europe.

In a 20 Feb industry summit held at the BASF site in Antwerp, 73 corporate leaders presented ‘the Antwerp declaration’ to the Belgian prime minister, Alexander De Croo and European Commission president, Ursula von der Leyen.

The industries represented included chemicals, pharmaceuticals, paper, steel and mining. 

The declaration, according to the European Chemical Industry Council (Cefic), outlined “urgent industry needs to make Europe competitive, resilient, and sustainable in the face of dire economic conditions.”

To overcome challenges, the declaration outlined 10 concrete actions, including integrating the EU Industrial Deal into the broader ‘European strategic agenda’, streamlining legislation, and simplifying the "State Aid framework".

Among other actions, the document called for a move to "eliminate regulatory incoherence, conflicting objectives, unnecessary complexity in legislation and over reporting."

It also called to transform Europe into “a global leader in providing abundant and affordable low-carbon energy”.

The energy, said the declaration, should be supplied through “strategic partnerships and robust infrastructure, besides a stronger support for EU projects.”

Furthermore, the document also emphasised the need to ensure raw material self-sufficiency, while stressing the importance of innovation.

The declaration described Europe’s single market as “an asset to be leveraged and revived” for the growth of the region.

The corporate leaders also called for the establishment of a new “spirit of law-making” that would incentivise investment as well as setting up a “cohesive internal structure for effective policy implementation.”

“Basic industries in Europe are grappling with historical challenges,” said Martin Brudermueller, BASF CEO and Cefic president.

Production sites are threatened, he said, as demand is declining, investments are stalling and production has “dropped significantly”.

“We urgently need decisive action to create the conditions for a stronger business case in Europe,” he added.

‘The Antwerp declaration’, Brudermueller said, outlines a pathway ahead by placing the European Industrial Deal at the forefront of Europe’s strategic agenda.

“This is the only way to show the rest of the world that the Green Deal works for all,” he concluded.