Saxony's Minister President calls for greater EU commitment to Europe as an industrial location

Saxony's Prime Minister Michael Kretschmer has demanded more commitment from the EU to preserve Europe as an industrial location. What is needed is the promotion of high technologies and a strengthening of economic clout, said the CDU politician on Thursday in Paris at the Business Day of the Franco-German Chamber of Industry and Commerce (AHK). "Speed is of the essence, and the way things are going in the European Union at the moment, it's not working."

The billion-dollar U.S. subsidy program Inflation Reduction Act (IRA) must be countered by Europe so that it doesn't fall by the wayside, Kretschmer said. "Europe needs to wake up and find an answer." This is not just about subsidies, he said, but also about stepping up efforts. The EU also needs to arrive at a concept for energy policy, he said. "This continent must continue to be an industrial and production location."

The focus of Kretschmer's trip to Paris was on strengthening economic cooperation between Saxony and France, particularly in the fields of microelectronics and hydrogen. The previous day, the CDU politician had met France's Economy Minister Bruno Le Maire and talked about expanding cross-border relations.