Industrial Policy In The European Union

The differences registered in the early 90s between the economy of the European Union as compared to the economies of the United States and Japan, in regards of growth rates, investment rates, R&D and innovation, international trade, etc., as well as the fast changes of the world economy determined the European Commission to issue the white paper on “Growth, Competitiveness and Employment”, underlining the meaning of the European economy’s competitiveness in the new conditions, and the legal frame for EU’s industrial policy was settled through the Treaty of Maastricht. The document was setting theobjectives, priorities and the six basic principles of the European industrial policy, in a unitary concept. In the spring of 2000, the European Council from Lisbon sets the objective of transforming the European Union in the most dynamic and competitive economy of the world, and, therefore, foresees a working agenda with specific actions going until the horizon of 2009. In December 2002, after EUs enlargement, the Commission forwards to the Council the document titled “Industrial Policy in an Enlarged Europe”, in which theindustrial development at the moment of new member states integration is analyzed, as well as the effects of EU’s enlargement over the industry, and it suggests actions for the future development of the sector. The industrial policy of the EU must offer solutions for industrial development, by answering the challenges concerning globalization, the technological and organizational changes, the increasing role of innovation and entrepreneurship, and the sustainable development taking into consideration the new socialrequirements. The development objectives set at European level cannot be reached without a tight interconnection of the industrial policy measures with those of some complementary policies, such as thecommercial policy, the single market policy, transport and energy policies, research and development policies, competition policy, regional and macroeconomic policies.