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EC Signals Bid for New 'Industrial Revolution'

Business » INDUSTRY | October 11, 2012, Thursday // 13:55| Views: 1650 | Comments: 0
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Bulgaria: EC Signals Bid for New 'Industrial Revolution' EC vice-president and Commissioner for Industry Antonio Tajani. Photo by EPA/BGNES

European Commission Vice-President Antonio Tajani revealed plans for a re-industrialization and moving away from financial and other services across the EU.

The plan's chief target is achieving 20% of Europe's GDP to be contributed from industry by 2020.

"Our figures are crystal clear: European industry can deliver growth and can create employment," said European Commission Industry Commissioner Tajani.

"We cannot continue to let our industry leave Europe," added the Italian commissioner.

Currently, just 15% of Europe's GDP comes from industrial production.

What Tajani called plans for a "new industrial revolution" are also aimed at overcoming the financial crisis that has fallen hard on some EU member states.

In particular, the Industry Commissioner stressed that Europe must reclaim jobs back from emerging economies like China.

Part of the plans for re-industrialization aim at concentrating on high added value innovative sectors as green energy, bioproducts, sustainable production, construction, transportation and energy systems.

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Tags: EU, financial crisis, European Commission, industrial, industry, production, jobs, growth, Antonio Tajani
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