The report highlights finance as key challenge and said it would further stimulate increased financial investment in high technology industries for research, development, manufacturing and infrastructure and encourage the European Investment Bank (EIB) to further develop its loan policy to give priority to high technology industry.
And with regards to trade relations the report advocates a carrot-and-stick approach. On the one hand the report proposes increased efforts to take part in international cooperation with leading and emerging countries, such as the US, Japan, Russia, China and India.
At the same time the report says the European Union "must ensure that potential trade distortions triggered by direct or indirect subsidies in third countries are effectively screened and tackled," through such mechanisms as countervailing measures and hauling countries before the World Trade Organization.
The report proposed the creation of a high-level expert group tasked with developing a long-term vision for key enabling technologies and said it would report back to the European Parliament at the end of 2010.
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