Industrial policy rethink needed, says key EU institution:

The European Economic and Social Committee (EESC), which participates in the Community decision-making process, says that European industrial policy requires rethinking and enhanced efforts. The need for a reappraisal of the EU manufacturing industry should be taken into account in the March 2005 mid-term review of the Lisbon Strategy and drive a "new-style" industrial policy plan, it says. Policies should be more closely aligned to the dynamics of the various sectors and businesses, the EESC states, and sector-specific features should include ongoing consultations with the business sectors, regulation, removal of non-trade barriers and research and development. It also calls for better co-ordination within the Commission and in the Competitiveness Council of industrial policy issues.