ERT & BusinessEurope Letter to Commissioner Breton
In view of the imminent launch of the new EU industrial strategy, we would like to stress the importance of upgrading the governance around the competitiveness of European industry. That is essential because, as you know very well, only competitive companies will enable the EU to successfully achieve its digital and climate ambitions.
In order to improve the overall policy framework on competitiveness, we believe that the EU needs to systematically benchmark its competitiveness with other countries and regions and work much more closely together with the business community. To this end, please find below two proposals:
- KPIs on industrial competitiveness: the strategy needs to be tracked against a set of KPIs for the purpose of effectively monitoring the competitiveness of EU industry. This should include a combination of a limited number of suitable KPIs.
A benchmark comparison with other regions and countries, including but not limited to China and the US, will be key.
- Sounding Board: to support the European Commission in implementing the strategy, a Sounding Board, bringing together high-level business representatives, needs to be established. The Sounding Board could provide input and feedback on the Commission’s initiatives and actions. Based on an annual report, prepared by an independent body, the Sounding Board could advise on the KPIs and how other policy areas (e.g. competition, trade, environment, etc.) impact industrial competitiveness, and potentially propose corrective measures. It could act as a strategic resource for the Commission and meet on a regular basis (e.g. every 6 months). The work of the Sounding Board could also be presented to the Competitiveness Council.
We trust these structural suggestions will be considered when finalising the new EU industrial strategy. BusinessEurope and ERT stand ready to provide any additional support and information.