Strengthening the European Industrial Chemistry Sector's Resilience
CEFIC Tackles Challenges Facing the European Chemical Industry
The European Chemical Industry Council (CEFIC) is taking bold action to address the crisis facing the chemical industry in europe. Soaring energy costs, tightening regulations, and the need for innovation are just a few of the challenges that the european chemical industry is currently facing.
CEFIC is promoting the use of technology, particularly digital transformation and the development of next-generation sustainable chemicals, to maintain a competitive edge in the european chemical industry. In addition, the organisation is working towards creating a one-stop-shop for EU funding and faster, simpler procedures, particularly for Small and Medium-sized Enterprises (SMEs) in the european chemical industry.
Ilham Kadri, CEFIC's President, stated that europe's chemical industry is in a race against time and that bold, urgent action is needed, particularly to address energy costs and regulatory burden. Over the past two years, the rate of closures for european chemical production sites has surged to 10 times the historical average.
To address these challenges, CEFIC is engaging with stakeholders, including policymakers, industry leaders, and value chain partners, to ensure the challenges and opportunities facing the specialty chemical sector are addressed. The organisation is also fostering collaboration to strengthen regional supply networks to ensure greater security of supply and reduce dependencies.
CEFIC is also focusing on sustainable and circular supply chains to create value, reduce costs, and meet climate goals. The organisation is working to simplify and streamline the regulatory framework to enable companies to focus on innovation rather than paperwork. In addition, CEFIC is positioning itself to emerge stronger by reinforcing europe's strategic industries, particularly in securing key chemicals for defense and critical medicine production.
CEFIC is also asking EU policymakers to get ongoing Free Trade Agreements (FTAs) like Mercosur, India, and the countries in europe over the finishing line to open and deepen access to third-country markets. The organisation is also advocating to tackle unfair trade practices and market distortions that harm the industry, and to expedite antidumping investigations to offer quicker relief to affected producers.
Finally, CEFIC is enhancing efforts to diversify non-EU supply sources to decrease dependencies and capture more growth by tapping into new markets. In recent months, CEFIC has contacted EU Commissioners including Thierry Breton (Internal Market), Kadri Simson (Energy), and Virginijus Sinkevičius (Environment) to support their 10-point rescue plan for chemical companies.
By taking these actions, CEFIC is demonstrating its commitment to ensuring the future of the european chemical industry and positioning it for success in the face of these challenges.
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