Statement: Cefic truly welcomes the Draghi Report

Brussels, 9 September 2024 – Speechwriters and journalists in Brussels will advise you to never welcome a proposal or a report. Today we argue the contrary. We truly welcome the Draghi report.

Professor Draghi heard our call for an Industrial Deal. Following the Antwerp summit on 20 February 2024, almost 1300 Industry leaders have now signed the Antwerp Declaration. Competitiveness has never been higher on the agenda.

The Antwerp declaration stressed the need for a 1st Vice President for the Industrial Deal. We asked to combine industry, trade and competition policy in one integrated approach. Professor Draghi has come to the same conclusion.

Said Ilham Kadri, CEO of Syensqo, President of Cefic:

“As a CEO of a global company facing global challenges, I can tell you every boardroom in the world is now watching how fast action is taken. It is not the time for business as usual in Europe. This report provides proposals that need urgent implementation: it is our chance to double down and get it right”.

For the chemical industry, it will mean finding a way to combine decarbonisation, address our dependencies when facing global competition and financing the transition for hard-to-abate sectors for Europe to lead again.

“I believe I can say on behalf of all the signatories of the Antwerp Declaration that it is time for EU institutions and Member States to answer to this Wake-Up call for Europe. If these recommendations are not implemented, as Professor Draghi said today, Europe will be in slow agony. Industry and its workers do not have the luxury to be part of that. It is not only about closing the innovation gap, but about keeping existing capacity profitable in Europe.“

Ilham Kadri, CEO of Syensqo, President of Cefic.

“Diagnosis is not the end, but the beginning of practice”. The report actually calls for an entire new spirit of lawmaking in Brussels. It asks member states to review unanimity. It signals we need 4-5% of EU GDP to meet our goals, three to four Marshall plans, for which new financial tools need to be found. All will have to cross boundaries and comfort zones.

Many suggestions mentioned have been raised before in Industry meetings. Now Europe’s key Economic advisor makes them a fact.

So from letter to word, from diagnosis to practice, we call to European and National policy makers to act, now.