2021 IEKTopics|Strengthening the Industry Autonomy of European Industries

2022/05/06
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Current Development Status of European Industries.

Affected by global geopolitics and pandemic lockdowns, the EUs GDP in 2020 has significantly dropped by 6.1%. In response, the EU revised its industrial strategy in 2021 to counter the impacts and strengthen overall development and global competitiveness. The main points in this strategy include: resilience of the single market, accelerating twin transitions, and strengthening EUs open strategic autonomy by understanding the dependency of industries. The EU is aware that its critical raw materials and products are highly reliant on the global supply chain and they should improve strategic autonomy and independence while maintaining openness and collaborating with global partners. Thus they proposed the following measures: diversified international partnerships, industrial alliances, monitoring of strategic dependencies, and leadership in standards-setting. Looking forward, Taiwan should closely observe the following developments of EUs strategic autonomy policies and actively take part in the industry ecosystems of its six major key fields to obtain more innovative industry collaborations and market opportunities.

 

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