The German Chambers of Industry and Commerce (DIHK) are calling for measures to strengthen the industrial location in Europe. In their press release, DIHK points out that the European industry is burdened, among other things, by high energy prices and excessive bureaucracy.<\/p>\n
Volker Treier, Chief Executive of Foreign Trade at DIHK, urges for a swift clarification of the “New European Competitiveness Deal.” According to DIHK’s press release, this call comes following the meeting of the EU Competitiveness Council on May 24. During this session, the Council addressed, among other topics, industrial policy.<\/p>\n
According to Treier, the global competition for industrial value creation has significantly intensified. From a European perspective, this is attributed, among other factors, to bottlenecks in supply chains and increasing subsidies in key global production sites.<\/p>\n
DIHK emphasizes the necessity of significantly improving location factors. Therefore, according to Volker Treier, concrete measures are urgently needed in response to the EU government leaders’ call in April for a competitiveness deal.<\/p>\n
A horizontal location policy with the best possible domestic location factors is considered the best industrial policy, according to Treier. Key priorities for the economy include a coherent regulatory framework, easier and faster access to financing, efficient approval processes, well-trained professionals, room for successful innovations, ambitious trade policies, and notably, less bureaucracy and affordable energy prices, as stated in DIHK’s press release.<\/p>\n