Consolidated version of the Treaty on the Functioning of the European Union<\/p>\n
Download or open the entire text of the document<\/a><\/p>\n TITLE XVII<\/p>\n INDUSTRY<\/p>\n Article 173<\/p>\n (ex Article 157 TEC)<\/p>\n 1.\u00a0\u00a0The Union and the Member States shall ensure that the conditions necessary for the competitiveness of the Union’s industry exist.<\/p>\n For that purpose, in accordance with a system of open and competitive markets, their action shall be aimed at:<\/p>\n \u2014\u00a0speeding up the adjustment of industry to structural changes, 2.\u00a0\u00a0The Member States shall consult each other in liaison with the Commission and, where necessary, shall coordinate their action. The Commission may take any useful initiative to promote such coordination, in particular initiatives aiming at the establishment of guidelines and indicators, the organisation of exchange of best practice, and the preparation of the necessary elements for periodic monitoring and evaluation. The European Parliament shall be kept fully informed.<\/p>\n 3.\u00a0\u00a0The Union shall contribute to the achievement of the objectives set out in paragraph 1 through the policies and activities it pursues under other provisions of the Treaties. The European Parliament and the Council, acting in accordance with the ordinary legislative procedure and after consulting the Economic and Social Committee, may decide on specific measures in support of action taken in the Member States to achieve the objectives set out in paragraph 1, excluding any harmonisation of the laws and regulations of the Member States.<\/p>\n This Title shall not provide a basis for the introduction by the Union of any measure which could lead to a distortion of competition or contains tax provisions or provisions relating to the rights and interests of employed persons.<\/p>\n Download or open the entire text of the document<\/a><\/p>\n
\n\u2014\u00a0encouraging an environment favourable to initiative and to the development of undertakings throughout the Union, particularly small and medium-sized undertakings,
\n\u2014\u00a0encouraging an environment favourable to cooperation between undertakings,
\n\u2014\u00a0fostering better exploitation of the industrial potential of policies of innovation, research and technological development.<\/p>\n