PES COMPET ministers: Support European industrial policy to deliver sustainable competitiveness and quality jobs

Ahead of the COMPET Council, ministers from the Party of European Socialists met to coordinate progressive priorities on Europe's long-term sustainable competitiveness, European industrial policy, and strategic investment.

The meeting was chaired by Spain's Minister for Industry and Tourism, Jordi Hereu Boher, who opened the discussion by underlining that Europe's competitiveness must always be driven by a desire for Better Regulation and be built on sustainable reindustrialisation, investment and innovation.

Participants exchanged views on the follow-up to the informal EU leaders' retreat of 12 February. They emphasised the need for a forward-looking and progressiveEuropean industrial policy, sustained by a permanent European investment capacity to support sustainable growth and quality jobs. In addition, ministers discussed preparations for the upcoming negotiations on the next Multiannual Financial Framework (MFF) and the European Competitiveness Fund (ECF). They also exchanged views on the follow-up to the Industrial Action Plans for Europe's steel, automotive, and chemical industries within the Clean Industrial Deal.

Jordi Hereu Boher, Minister for Industry and Tourism of Spain and Chair of the meeting, said:

"Europe's competitiveness must be rooted in a stronger European industrial policy that creates quality jobs and champions sustainability. We need to create the right conditions to accelerate support for European strategic industries -creating lead markets within the Single Market and assuring a minimun strategic production in the European Union- advancing decarbonization, fostering innovation, and deepening engagement with global partners to the benefits of all European citizens. Our financing must reflect our ambitions, including supporting these industries, specially through the next European Competitiveness Fund."

PES ministers agree that simplification must not come at the expense of social and environmental protection. A stronger Single Market requires greater integration, reduced fragmentation, as well as fostering innovation, not a race to the bottom. Furthermore, robust consumer protection and fairness safeguards are crucial amid the rapid growth of e-commerce and the digital economy.

From left to right: Giacomo Filibeck, Teresa Ribera, Yonnec Polet, Jordi Hereu Boher, Yonnec Polet

To boost Europe's sustainable competitiveness, the network agreed that greater investment is needed to fulfil the ambitions of the Clean Industrial Deal. They also agreed that financing must be more accessible and clearly deployable for European strategic industries and SMEs, while ensuring dedicated fundingfor social investments and skills, and climate.

They reaffirmed their commitment to climate targets while supporting industries, and highlighted that electrification and renewables are central to Europe's technological leadership and independence. Regarding the automotive sector, participants emphasised the importance of stimulating demand for small European electric vehicles, including through social leasing schemes for low- and middle-income households.

They also discussed upcoming initiatives aimed at creating lead markets for European products in clean technology and other strategic sectors, addressing demand-side gaps, accelerating decarbonisation, and reinforcing strategic value chains. To support these objectives, participants endorsed a clearly defined "Made in Europe" approach and social considerations in procurement, alongside strong global engagement.