The European Committee of the Regions (CoR) Commission for Economic Policy (ECON) met in Galway, Ireland, on 6 and 7 October to discuss Europe’s regions' central role in strengthening competitiveness and resilience in a changing global economy, stressing the importance of supporting local businesses, investment and innovation while addressing trade volatility and shifting global supply chains.
The two-day meeting and conference, hosted by Jimmy McClearn, Member of Galway County Council, brought together regional leaders, policymakers, academics, and innovation experts to explore how regions can strengthen their economies through investment, trade and support for local businesses. In the context of Galway and the wider Atlantic Economic Corridor, the discussions focused on the role of indigenous businesses in creating high-skilled jobs and connecting regional economies to global markets.
Participants highlighted that maritime regions in the West of Ireland and regions in Europe with similar geographic and economic characteristics can build sustainable competitiveness by supporting business growth, innovation and productivity. With the Single Market facing a changing global economic environment, participants stressed the trade volatility, shifting global supply chains and the impact of these challenges on regional economies. They underlined the need for regulatory simplification and competitiveness reforms that reduce administrative burdens.
During the meeting, ECON members adopted a draft opinion on the EU Industrial Maritime Strategy, drafted by rapporteur Adam Banazak (PL/EA), Councillor of Inowrocław County, underlining the strategic importance of maritime industrial regions for Europe’s competitiveness, sustainability and resilience. In the draft opinion, local and regional leaders called for a stronger place-based approach to the implementation of the EU Industrial Maritime Strategy, recognising the specific challenges and opportunities faced by coastal, island, outermost and industrial maritime regions. They stressed the need to improve access to financing, and greater use of public-private partnerships to mobilise investment. They further highlighted the importance to support the modernisation, decarbonisation and digitalisation of shipyards, as well as ensuring the availability of affordable clean energy."
The two-day meeting and conference included a study visit to the BIA Innovator Campus, a major food innovation and entrepreneurship hub based in Athenry, Co. Galway. It is designed to support food and drink businesses – from early-stage startups to scaling companies – through a mix of facilities, expertise, and business supports.
Also during the meeting
During the meeting, ECON members further adopted a draft opinion on the Chips Act 2.0, drafted by rapporteur Thomas Schmidt (DE/EPP), Member of the Landtag of Saxony, welcoming a more regionally anchored Chips Act 2.0 with the creation of a label of excellence for European semiconductor regions and calling for this label to be linked to practical and measurable benefits. They stressed the need to accelerate administrative and State aid procedures and strengthen the full semiconductor value chain. Finally, they called for a dedicated semiconductor budget in the next EU budget, and a more proactive approach to reducing strategic dependencies and securing critical supplies.
ECON members also held a first exchange of views on the draft opinion on the Cloud and AI Development Act, drafted by rapporteur René Jansen (NL/EA), Alderman of the Municipality of Dongen.
Quotes
Alberto Cirio (IT/EPP), Chair of the ECON commission and President of Piedmont: “Galway has provided a valuable space to reflect on how Europe can strengthen regional competitiveness, resilience and sustainable growth. I warmly thank our Irish hosts and all participants for their contribution, which has highlighted the importance of innovation, local economic strength and cooperation across the Atlantic Economic Corridor.”
Cllr. Helen Ogbu, Mayor of the City of Galway: “It is a privilege for Galway to host this important European gathering. Strong local economies are the foundation of sustainable regional competitiveness, and today's discussions highlight how collaboration, innovation and investment can help regions across Europe build resilience, create opportunity and deliver long-term prosperity for their communities”.
Cllr. Jimmy McClearn (IE/EPP), Member of Galway County Council: “I am delighted to host this the 10th External ECON meeting and conference in Galway, providing an opportunity to showcase the innovation, enterprise and ambition that drive our region. Galway and the West of Ireland demonstrate how strong local businesses, supported by investment and collaboration, can contribute to Europe's competitiveness and resilience, and future sustainability."
Michael Murphy TD, Member of Dáil Éireann, the parliament of Ireland: “Europe’s regions are not short of ambition, ideas or entrepreneurs. The challenge is making sure that a promising start-up can become a successful scale-up without feeling that it has to relocate to a major capital or economic centre to do so. That means creating the right conditions locally — access to skills and talent, infrastructure, finance, innovation supports and, crucially, faster and more predictable planning and investment decisions. Ireland’s experience shows the value of bringing local authorities, enterprise agencies, higher education and industry around the same table. If we get that ecosystem right, regional businesses can scale internationally, create high-quality jobs locally and ensure that economic growth is shared more evenly across our regions.”
Background
- Rewatch the meeting here.
- The European Commission has on 4 March adopted the Industrial Maritime Strategy to drive competitiveness, innovation and technological leadership in Europe’s maritime manufacturing and shipping industries. The Strategy sets out a vision and concrete actions to reinforce Europe’s industrial sovereignty, trade and economic security, while supporting the sectors’ clean and digital transition.
- The Chips Act 2.0, presented by the European Commission on 3 June, aims to strengthen Europe’s semiconductor industry and reduce strategic dependencies, boost demand for chips, and support the design and production of advanced and mainstream chips in the EU.
