Plenary Session Highlights - Industrial Sovereignty: Can Europe Win The Trade Game?

Europe is contemplating a shift towards industrial independence, with a focus on strategic minerals and defense capabilities. The EU is considering how to allocate 150 billion euros in new investments, alongside 650 billion euros of fiscal space within national budgets, without breaching the 3% GDP deficit limit. There is optimism about Europe's potential to reduce reliance on other regions for strategic minerals, despite past dismantling of relevant infrastructure. Companies like DAKENG are leading in robotics and autonomous systems, particularly in mine removal, showcasing Europe's innovative capabilities. The discussion also highlights the need for industrial cooperation, drawing lessons from past European defense initiatives like Eurofighter and Galileo. The European defense industry is exploring consolidation, with companies like Leonardo collaborating with Thales, Airbus, and BA Systems on various projects. However, there is criticism of Europe's bureaucratic system, which is seen as a barrier to efficient industrial deployment on a global scale. The example of transporting green magnesium to the Netherlands illustrates the challenges posed by bureaucracy, compared to a more streamlined process when shipping to China.