European Union to strenghten its defense industry

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Defence & Security News - European Union
 
 
Friday, September 26, 2014 10:07 AM
 
European Union to strenghten its defense industry
The European Union (EU) said on Wednesday, September 24, defence should remain a priority on the EU agenda due to increasing instability, especially in the EU neighbourhood, and constant budget cuts in EU Member States. The EU said in a statement that EU defense will be one of the main topics in the first Competitiveness Council under the mandate of the Italian EU Presidency, which is taking place in Brussels on Sept. 25-26.
     
The European Union (EU) said on Wednesday, September 24, defence should remain a priority on the EU agenda due to increasing instability, especially in the EU neighbourhood, and constant budget cuts in EU Member States. The EU said in a statement that EU defense will be one of the main topics in the first Competitiveness Council under the mandate of the Italian EU Presidency, which will take place in Brussels on Sept. 25-26.
EU defense industry employs about 400,000 people and generated a turnover of 122.73 billion dollars in 2012
     

European Commission Vice President Michel Barnier and Commissioner Nelli Feroci are presenting the Commission's Implementation Roadmap: a New Deal for European Defense, adopted on June 24 of 2014.

They will give details about the priorities and the timetable set up by the Roadmap in order to deliver concrete outcomes to the European Council in June 2015.

EU defense industry is a major industrial sector with a turnover of 96 billion euros (122.73 billion U.S. dollars) in 2012 alone, employing about 400,000 people and generating up to another 960,000 indirect jobs.