Conclusions on EU industrial policy strategy for competitiveness, growth and innovation as adopted by the Council at its 3604th meeting held on 12 March 2018.

In its Conclusion the Council underlines the importance of strengthening the industrial base as a key component of Europe's future, keeping in mind that European industry continues to be a major driver for productivity, growth, innovation and employment and a cornerstone of economic prosperity in Europe. It considers in this regard the Commission's communication from 2017 on "A renewed EU Industrial Policy Strategy"  as an important signal and a useful first step towards developing a future-oriented EU industrial strategy.

The Council calls for a comprehensive industrial policy that makes best use of the opportunities resulting from the transition towards safe and sustainable technologies, low-carbon and circular economy and is in balance with coherent European climate and energy policies, aiming at creating a strong, resource-efficient and competitive European industrial base. Furthermore it underlines that this comprehensive policy should take into account the sustainable supply of raw materials and the external dimension of the EU climate policy, while paying special attention to addressing the issue of high energy costs and preventing significant disadvantages in international competition, in particular for energy-intensive industries.