INSTITUTIONAL FRAMEWORK OF THE DEVELOPMENT OF THE EU MANUFACTURING INDUSTRY

Despite its declining relative contribution to the EU economy manufacturing remains the key contributor for value creation. According to a greatnumberofexpertsEuropeisatthebeginningofthefourthindustrialrevolution. Along with large-scale changes accelerated by manufacturing raises this process several questions about its institutional framework. The raising attention to industrial policy within the EU comes at a time of increasing complexity and importance of global value change, when globalisation and increasingly competitive environment has forced the EU to increase its competitiveness levels and also to create a favourable climate for entering and successful establishing on foreign markets. Main aspiration of the submitted paper is to analyse whether and what changes of economic policy are necessary if benefits are to be gained from new manufacturing and industrial technologies. The paper examines to what extent a greater coordination and also integration of EU industrial policy is needed to meet the challenges of Industry 4.0