Spain leads proposal for European Fund to Boost Industrial Competitiveness

 

At the Informal Meeting of EU Ministers for Competitiveness and Trade held in warsaw, Spain's Secretary of State for Industry, Rebeca Torró, has defended the creation of a European fund aimed at strengthening industrial competitiveness and resilience on the continent.

 

Spain proposes the creation of a European fund to boost industrial competitiveness and resilience, with a section of centralised management by a European authority.

 

The fund must ensure a fair ecological transition and a industrial decarbonization to increase the competitiveness of the sector.

 

Spain, together with the Commission, Portugal, Finland and Romania, will design an instrument to guarantee the reserve of industrial capacities and European strategic autonomy, reducing dependencies in strategic product chains.

 

Rebeca Torró, Secretary of State for IndustryHe stated: "We will not only encourage it through regulation, but specific instruments are also needed to help industrial sectors in this transition."

 

For its part, Rebeca Torró, Secretary of State for IndustryHe argued: "We need to promote coordinated measures that can, for example, favor and improve the competitive position of energy-intensive industries. Just as we must do in sectors that are so important and strategic for Europe, such as the steel or automotive sectors."

 

The Spanish proposal seeks to ensure that European companies can compete on equal terms in a scenario of intense globalisation, responding to current energy and climate challenges.