|Author (Corporate)||European Commission: DG Internal Market Industry Entrepreneurship and SMEs|
|Series Details||COM (2021) 350/2|
|Content Type||Blog, News, Policy-making|
Communication published by the European Commission on 5 May 2021, introducing amendments to the European Union's Industrial Strategy as set out in March 2020.
The European Commission unveiled its New Industrial Strategy on 10 March 2020, the day before the WHO declared the COVID-19 (coronavirus) pandemic. The update arises from the need to ensure that industrial ambition takes account of the circumstances stemming from the pandemic, in order to fully support the twin digital and green transitions and the overall economic recovery.
The updated strategy reaffirms the priorities as set out in the 2020 Communication, while responding to the lessons learned from the crisis to boost the recovery and enhance the EU's concept of open strategic autonomy. It lists a number of actions aimed at strengthening the resilience of the Single Market, particularly in times of crisis. It addresses need to better understand dependencies in key strategic areas and presents toolbox to address them. It offers measures to accelerate twin transitions. It also responds to calls to identify and monitor main indicators of EU's economic competitiveness.
This document was published on 5 May 2021 alongside a draft law focusing on foreign subsidies potentially disrupting the Single Market. Staff Working Documents accompanying this Communication focus on the steel industry and on the EU's strategic dependencies and capacities.
|Subject Categories||Business and Industry, Internal Markets|
|Subject Tags||Industrial Policy, Single Market|
|International Organisations||European Union [EU]|