| Author (Person) | Barber, Tony, Fidler, Stephen |
|---|---|
| Series Title | Financial Times |
| Series Details | 5.12.07 |
| Publication Date | 05/12/2007 |
| Content Type | News |
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The European Commission presented on the 5 December 2007 a 'Strategy for a stronger and more competitive European Defence Industry'. It recognises the special character of the industry and its unique relationship with governments but argues that much can be done to unleash its full potential to ensure that it provides value for money to Member States and delivers the capabilities needed in an efficient and effective manner for the ESDP. The aim is to create better conditions for Europe's defence industry to prepare for future challenges by increasing its competitiveness, promoting innovation, and building upon existing strengths, creating a fairer market place, and preserving and creating high quality jobs. This strategy is designed to ensure that Europe's defence industry can deliver the best capabilities for the ESDP. Member States, EDA and the Commission must take the necessary actions, both individually and collectively, to promote coordination of an overall policy to strengthen the internal market for the European defence industry. The Communication will outline the Commission's contribution to this shared objective. Europe's defence industry has an annual turnover of over € 55 billion. It accounts for around 30% of world production and has more than 300 000 employees. The defence sector is a technology-intensive sector whose cutting-edge research and development creates a spill-over in other areas. Defence is interlinked with electronics, information and communications technologies, transport, biotechnology and nanotechnology. Together, these industries constitute a source of opportunity, innovation and know-how which spurs development and growth throughout the economy. This article in the Financial Times represents the concerns of existing companies in the defence sector. |
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| Subject Categories | Business and Industry |
| Countries / Regions | Europe |
