One lesson learned in the revised EU Industry Strategy is the importance of upholding a strong and resilient EU Single Market. The Commission is embarking on a delicate balancing act, as it must not result in increased political intervention in the European economy.
On 5 May, the European Commission published a revised EU Industry Strategy, which is a follow up to the Strategy published in March 2020, i.e. before the Corona pandemic severely hit the European economy. One lesson learned is the importance of upholding a strong and resilient EU Single Market:
– For the Swedish forest industries, a well-working Single Market is a necessity. We sell more than 80 percent of the goods we produce outside of Sweden and the biggest receiving markets are other European Member States. To reduce and eliminate trade barriers is therefore of uttermost important to us, says Kerstin Hallsten, Chief Economist at the Swedish Forest Industries.
The Commission is emphasizing the need for open strategic autonomy in key areas to assure that supply chains can function and shortages can be avoided. This involves strengthening Europe’s own ability for sourcing combined with global partnerships.
– With open strategic autonomy, the Commission is embarking on a delicate balancing act, as it must not result in increased political intervention in the European economy. We strongly believe that businesses are best placed to determine how to become competitive and leaders in their sectors, continues Kerstin Hallsten.
The revised Strategy intends to further enforce the transformation of the European economy to be both green and digital. Important elements in this transformation are the 14 industrial eco-systems defined in 2020.
– Although not defined as one of the fourteen, the European forest-based industries constitute an excellent example of a well-working industrial eco-system, as we operate with strong connections to for instance the construction sector, textiles, chemicals and energy. Already today, our wood-based products and solutions contribute in greening Europe and there is considerable potential to increase this benefit further, concludes Anna Holmberg, Head of the Brussels office for the Swedish Forest Industries.