Renew Europe Position Paper 11: Europe’s industrial future

European industry makes up more than 20% of the EU’s economy and employs around 35 million people with many millions more jobs linked to it at home and abroad. It accounts for 80% of goods exports and helps ensure our position as a leading global provider and destination for foreign direct investment. Europe’s industry has benefited enormously from the Union’s open economy, from trade relations to scientific and technological cooperation with third countries.

Today, European industry has an enormous potential to propel our economy into a higher gear, while boosting its competitiveness and helping the Union to achieve climate neutrality by 2050. Renew is a staunch supporter of this transformative process and considers that smart regulation and considerable investments in R&I are essential for its success.