EU and southern Europe in re-industrialization pact

Italy, Spain, Portugal heads of State meet at COTEC in Lisbon

12 February, 19:58

    (ANSAmed) - MADRID, FEBRUARY 12 - An EU Industrial Compact adopted in January has led to a 'pact' between the European Commission and southern European countries to speed up the re-industrialization of Europe by exploiting the first signs of economic recovery, European Commission Vice President Antonio Tajani made known in a joint statement with ministers from Italy, Spain and Portugal on Wednesday in Lisbon.

    The statement was issued on the sidelines of the annual COTEC conference, which was attended by Italian President Giorgio Napolitano, Spanish King Juan Carlos, and Portuguese President Anibal Cavaco Silva.

    The aim of the Industrial Compact is for the manufacturing sector to make up 20% of EU GDP, and this can be achieved by speeding up innovation and marketing, COTEC experts from Italy, Spain and Portugal said.

    ''South European economies have 54 million workers and seven million businesses, most of them small and medium enterprises, and these need special attention under the new industrial policy'', the statement said. (ANSAmed).

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