Spain proposes securing an industrial pillar in the new European competitiveness fund

The Minister for Industry and Tourism, Jordi Hereu, with the First Vice-President and Commissioner for Competition of the European Commission, Teresa Ribera, at the European Union Competitiveness Council

The Minister for Industry and Tourism, Jordi Hereu, has presented a proposal at the European Union Competitiveness Council held in Brussels to ensure an industrial pillar in the new European competitiveness fund. Hereu argued that all EU policies must guarantee that companies can compete on equal terms in a scenario of intense globalisation and respond to the great challenges of recent years: the decarbonisation and digitalisation of our industrial companies.

According to the minister, this fund should be managed centrally by a European authority, with the aim of acting jointly to defend and promote industrial sectors and preserve the European Internal Market.

The minister also advocated an instrument that would guarantee European strategic autonomy by creating a reserve based on the industrial capabilities of the Member States.

This idea is already included in the new Law on Industry and Strategic Autonomy, which is being discussed in the Lower House, but "it is necessary to join the rest of the Member States in the effort to design this instrument that will allow the Union to reduce dependencies in strategic product chains and increase economic security in Europe," according to the Home Affairs minister.

Europe needs to promote, in a coordinated manner, measures that can favour and improve the competitive situation of energy-intensive industries, or such important and strategic sectors as steel and the automotive industry, concluded Jordi Hereu.

In this sense, the Spanish delegation has asked for progress in defining an industrial roadmap that specifies the financing formulas, beyond 2026, to urgently help industries in the face of high energy costs, and in the face of global competition, ensuring that the transformation of the sector and its decarbonisation is a viable and fair reality. To this should be added the realisation of the Clean Industry Pact, recently presented by the European Commission.

Defending European interests

On his arrival at the European Council meeting, Minister Hereu assessed the European Commission's decision to impose tariffs on American products. For the minister, Europe must react, but it must do so with an open hand to dialogue. "We are not in favour of a trade war between blocs, but we must defend the sectors affected."

He also advocated strategic autonomy in defence as an opportunity to boost innovation and technology within a broad concept that includes defence and security. "This reinforcement of the industrial defence policy reinforces the European and Spanish industrial strategy," said Hereu, who called for more pooled European funds after 2026 to continue developing industrial transformation policies.

Finally, he recalled that the visit of the Executive Vice-President of the European Commission and Commissioner for Prosperity and Industrial Strategy, Stéphane Séjourné, to Tarragona next Friday is part of an initiative to see on the ground the decarbonisation projects that Spain is working on, at a time when 205 million euros have been awarded to Repsol for a CO2 storage facility.

Non official translation