The initiative seeks to establish a new European competitiveness fund with a solid industrial pillar, capable of responding to the challenges of globalization, decarbonization, and digitalization. This proposal, which is already reflected in the new Spanish Law on Industry and Strategic Autonomy, seeks to gain the support of other member states to reduce dependencies on strategic product chains and strengthen the European economic security.
Within the European Union Competitiveness Council, the minister Jordi Hereu stressed the need for all Community policies to ensure a level playing field for European companies in a globalized market. The objective is clear: to prepare European industry to lead the transformation toward a decarbonized and digitalized economy.
"Europe needs to promote in a coordinated manner measures that can favor and improve the competitive situation of energy-intensive industries, or of sectors as important and strategic as steel or automotive," said Jordi Hereu.
The Spanish proposal contemplates the creation of a European competitiveness fund with a centralized management section, which would allow joint action in the defense and promotion of industrial sectors and in the preservation of the European Internal Market.
One of the key points of the proposal is the creation of a reserve based on the industrial capacities of the Member States, an idea already enshrined in Spain's new Law on Industry and Strategic Autonomy. According to Minister Hereu, "it is necessary to bring the other Member States on board with the effort to design this instrument, which will allow the Union to reduce dependence on strategic product chains and increase..." economic security in Europe«.
The Spanish delegation also emphasized the need to move forward in defining an industrial roadmap that establishes financing formulas beyond 2026. This roadmap would seek to support industries in the face of high energy costs and global competition, ensuring a fair and viable transformation of the sector. Likewise, they requested the specification of the Pact for Clean Industry, recently presented by the European Commission.
"We are not in favor of a trade war between blocs, but we must defend the affected sectors," Hereu commented regarding the European Commission's decision to impose tariffs on US products.
"This strengthening of defense industrial policy reinforces the European and Spanish industrial strategy," noted Hereu, who also requested more joint European funds from 2026 onwards to continue development industrial transformation policies.
Finally, Hereu recalled the upcoming visit of the Vice President of the European Commission and Commissioner for Prosperity and Industrial Strategy, Stéphane Séjourné, to TarragonaThis visit, part of an initiative to gain a closer look at decarbonization projects in Spain, coincides with the recent award of €205 million to Repsol for a CO2 storage facility.
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