European machine tool production is expected to rebound in 2011
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CECIMO Director General FilipGeerts pointed out: "In 2010, CECIMO member countries' machine tool production will be slightly lower than 2009. Machine tool production will take some time to reflect the substantial increase in orders. We expect machine tool production to rebound in 2011. It reached the level of 2009, but there is still a considerable distance from the highest record in 2008. According to our estimation, the European machine tool market will continue to grow in the next few years."
In the past few years, the Asian machine tool market has maintained rapid growth, and CECIMO has benefited from its growth. For example, in the first nine months of this year, China's imports of machine tools from Europe were almost close to those imported from Japan, which is a source of supply for China's high-end machinery tradition. Compared with Western countries, China still has a big gap in terms of ecological environment, energy efficiency and transportation, but developed countries are also changing. Geerts pointed out that Europe's growth and employment strategy will greatly stimulate the development of manufacturing, in order to create the most creative economy by 2020.
The economic crisis has led some countries to adopt trade protection measures. CECIMO strongly supports free trade and competition based on market conditions. The EU-Korea Free Trade Agreement (FTA) will enter into force in July 2011, which will not only eliminate the tariffs of both parties, but more importantly, avoid the emergence of non-tariff barriers. At present, European machine tools are subject to an 8% tariff in South Korea, while Korean machine tools have a tariff of less than 3% in Europe.