Page last updated at 11:59 GMT, Wednesday, 10 October 2012 12:59 UK

Commissioner calls for 'reindustrialisation' of Europe

The Industrial Policy Commissioner, Antonio Tajani, has called for the "reindustrialisation of Europe", during a statement on 10 October 2012, on the future of industry in Europe.

Industrial output in the EU is 10% lower than before the crisis began in 2007, and three million industrial jobs have been lost, representing around 10% of the workforce.

Total investment in the economy has fallen from 21.25% of GDP before the crisis, to around 18.6%.

Commissioner Tajani said there was a danger that the industrial sector could reach the "point of no return", destroying the "industrial fabric" of Europe.

He announced plans to promote competitiveness, by deepening the single market, and focusing on barriers such as intellectual property laws.

However he added that there needed to be a greater focus on getting European products on international markets, as well as the EU's own internal market.

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