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VDMA and FIM reassert the importance of the European Union for industry


13 Jul 2016


Innovation & Enterprise

Frankfurt / Courbevoie, 13. Juli - The result of the referendum in the United Kingdom endangers the European project and creates a state of uncertainty detrimental to the development of the industry. A domino effect caused by the decision of the UK leading to the exit of further member states from the EU would have serious consequences to the sustainability of our economic model.

VDMA (German Mechanical Engineering Industry Association) and FIM (French Federation of Mechanical Engineering Industries), two of the most important business associations in Europe, representing export-intensive companies fully integrated in the European value chain, strongly rely on the benefits of the European Union, in terms of economic development, R&D and competitiveness. We fully support the idea of European integration as a basis for stability, peace and economic welfare in Europe.  

For German and French companies the European Union is their home market. But moreover for our companies the European Union is necessary to shape the rules of globalisation. It guarantees fair trade and competition with major third countries, while ensuring the implementation of a certain set of rules (safety of consumers, intellectual property,…).

VDMA and FIM are committed to pursuing their efforts in favour of the European integration. Their presidents, Dr. Reinhold Festge and Bruno Grandjean, will discuss these topics during their up-coming meetings, showing the willingness of German and French companies to contribute to the European project.