Minister Karanikolov: “We shall work for a comprehensive and long-term EU strategy for the industry

Minister Karanikolov: “We shall work for a comprehensive and long-term EU strategy for the industry

In order to respond to global economic processes and challenges, and to preserve Europe’s competitiveness, a common industrial policy shall be necessary with closer policy coordination, also including the national level. We shall continue our work to give special consideration to small enterprises, to start-ups, to the expanding and medium-sized enterprises in their efforts to achieve a comprehensive and long-term EU industrial strategy”. This was stated by the Minister of Economy Emil Karanikolov, who presented the priorities of the Bulgarian presidency in the field to the European Parliament’s Committee on Industry, Research and Energy (ITRE).

“Enhancing Europe’s competitiveness globally and digitally is of paramount importance to the European Union, and stimulating innovations is a factor for sustainable growth and increasing added value in economy”, Minister Karanikolov pointed out. According to the Minister, the development of high-level economic sectors will contribute to enhancing Europe’s competitiveness. “Special emphasis should be placed on promoting innovations and investments in human capital development, in order to preserve talent and innovator spirit in Europe”, the Minister added.

The Minister of Economy also pointed out that the development of digital technologies has a high potential and is a significant factor in supporting European competitiveness. “The attraction of high-tech investments, the development of digital innovations and promising methods of production will reinforce the position of the European Union as a global leader”, Karanikolov stated further. “Digitalization should cover as many sectors of the economy as possible. In this respect, it shall be important for Europe to develop digital platforms and hubs and complex initiatives, such as ‘Industry 4.0’, the Minister of Economy said.

Earlier today, in Brussels Minister Karanikolov pointed out to the Committee on the Internal Market and Consumer Protection (IMCO) that the work on finalizing individual initiatives on the Digital Single Market Strategies and the EU Single Market shall be continued. “I would like to highlight the importance we attach to improving the functioning of the internal market for services, given the economic and political importance of the services sector throughout the European Union,” Karanikolov emphasized. “As a sector, responsible for a very large share of the gross domestic product and of the employment across the European Union and in the separate regions, priority shall be given to the proposals in the package for services”, the Minister added.