Franco-German Manifesto for a European industrial policy fit for the 21st century

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France and Germany put together a joint   Manifesto    aimed at   creating a European industrial sector which is fit for the 21st  century. The Manifesto   takes into account  the fast digitalization of the global economy and puts forward recommendations that will help keep Europe competitive    globally 

France and Germany   call for a genuine European industrial policy with clear objectives for 2030    and   believe that    EU   Member States   should   pool their funding, skills and expertise    in order to   maintain Europe’s manufacturing power. Both countries believe this should be the next European Commission’s top priority.  

According to the   Manifesto, the   future European industrial strategy should be built around three pillars. 

First, Europe should massively invest in innovation  so that Europe is the one that is creating, developing and producing new technologies. Therefore,    it is necessary to create   a European strategy for technology funding  and a   strong EU commitment to disruptive innovation. In addition,   Europe should   become   a   world leader   in   Artificial Intelligence    and development of   cutting-edge technologies. At the same time,   financial markets   should   support innovation in industry. 

Second, European   regulatory framework    needs to be adapted   so that European companies can compete   on the global stage. Currently, European companies face a massive disadvantage because there    is no regulatory global playing field.   This is a    point    which is also    strongly   emphasized in Ecommerce Europe’s    recommendations    for the 2019 European elections.    France and Germany suggest    updating current merger guidelines to take greater account of competition at global level. 

Third,   Europe needs to ensure effective protection of its   technologies, companies and markets. This includes ensuring full implementation of the European foreign investment screening framework,   an effective   reciprocity mechanism for public procurement with third countries    as well as    defending multilateralism, open markets and promoting an ambitious EU trade policy.    Finally,   the Manifesto says that Europe must   constantly monitor and adapt as necessary   its    trade policy to defend   its    strategic autonomy.   This includes the modernization of the WTO rulebook to improve transparency and fight against trade distorting   practices. 

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