In 2010, the European machine tool industry is improving

On May 18, the European Council for Cooperation in Machine Tool Industry (CECIMO) held an Economic Cooperation Conference in Leipzig, Germany. The meeting pointed out that since the fourth quarter of 2009, the European machine tool orders began to improve, and the first quarter of 2010 is expected to show an upward trend. The growth of consumption in emerging markets, especially the Chinese market, has strongly promoted the recovery of the European machine tool industry. Given the importance of emerging markets in Asia, CECIMO expressed its expectation that there will be better market access to these economies, especially substantial progress in removing non-tariff barriers. Against this background, free trade agreements are expected to eliminate non-tariff barriers established by some countries to protect their machine tool industries. CECIMO expressed its full support for the EU's key technological measures, as well as the establishment of a free trade agreement with South Korea. Despite the severe crisis in 2009, the share of CECIMO member countries in the global machine tool export market still rose from 55% to 61%. CECIMO told reporters that this proves the competitiveness of European machine tools in the global market, and hopes that this trend will continue in 2010. CECIMO believes that due to factors such as still low investment levels in traditional end-user industries, below-average capacity utilization, and difficulties in obtaining credit for companies (especially SMEs), machine tool consumption in Europe will take longer to recover. CECIMO also pointed out that the EU will unswervingly establish the necessary regulatory framework to pave the way for the realization of intelligent, green, compatible, innovative and global competitiveness of future machine tools.