Spain proposes a new European industrial pact to guarantee fair competition and strengthen technological investment

The Minister of Industry and Tourism of Spain, Jordi Hereu, has advocated a new European pact for the industry to ensure fair competition with third countries during its intervention in the Competitiveness Council held in BrusselsHereu stressed the need to balance the competitive environment, noting that “the industry needs a fair competitive environment, where products manufactured under strict environmental regulations are not at a disadvantage compared to those imported from countries with less rigorous requirements.”

Jordi Hereu stressed that the Letta and Draghi reports should guide the new European Commission in defining an industrial agenda that makes Europe stronger, more integrated and more competitive.

In addition, the Spanish minister stressed the importance of reducing the cost of energy for European companies and simplify the EU regulatory frameworksince it is currently "creating barriers and uncertainties for industrial investment." He proposed the creation of a community financial instrument to mobilize resources aimed at developing industrial and technological capabilities in Europe, as well as maintaining investment efforts beyond 2026, the deadline for the Recovery Plans.

As for the automotive sector, Hereu called for an action plan with simplified regulations that would allow for a realistic transition to the car of the future, while also promoting pragmatic decarbonisation that would facilitate the adaptation of the industry.