Press Release: Research and innovation key to competitiveness of chemicals industry

To maintain the world leading position of the European chemical industry various measures should be taken, like a strengthening of innovation networks, increasing the spending in Research and Development (R&D), a better developing of human resources and improving information and communications. These measures are proposed in a first set of recommendations, done by the High Level Group on the Competitiveness of the European Chemicals Industry, yesterday at a meeting. The chemical industry is currently facing unprecedented challenges to maintaining competitiveness. The challenges include coping with increasingly costly energy and feedstock (mainly oil and gas), helping to mitigate global environmental pressures in particular from climate change and facing strong competition from emerging countries (e.g. China, Middle East and Russia). The chemicals industry is well placed to bring solutions to these problems and to exploit new opportunities. It provides innovations to most other industries and is a key component of value chains that end with the great majority of consumer products. To help the industry to overcome the present challenges and to exploit related opportunities, the High Level Group (HLG) however has made these first recommendations.