Rising exports lead to continued growth in orders for European machine tools

Recently, according to the Economic Commission of the European Machine Tool Industry Cooperation Council (CECIMO) confirmed:

● European machine tool industry as all manufacturing engines once again showed strong growth;

● In the first half of 2010, European machine tool orders increased by 48% over the same period of last year. The main growth drivers came from exports to the Asian market;

● The basis for growth comes from the world's leading technology in the machine tool industry and continuous investment in the field of innovation;

● CECIMO welcomes the free trade agreement with South Korea, which is a further support measure for future market access for the industry.

The orders for machine tools in Europe continued to grow, but the growth was mainly driven by exports. In the previous year, the overall level of orders increased by 48% year-on-year, which is very difficult for the machine tool industry. Among them, the growth of local orders is slightly slower than the growth of overseas orders, and it is expected that overseas orders will experience rapid growth in the third quarter of 2010. At the same time, the recovery industry of the machine tool industry also benefited from the holding of EMO, the top machine tool show in Europe in September. The order volume during the exhibition exceeded the 2009 level.

Through the statistics of the first three quarters of 2010, CECIMO is the largest machine tool supply area in the rapidly growing Asian market. European high-end technology provides high-quality products and advanced manufacturing solutions, making it successful in the BRIC market.

The long-term performance of the European machine tool manufacturers in overseas markets proves the strong competitiveness of the industry and the sustainable development of the European economy.

Despite this, there are still some trade barriers that hinder the development of trade. Especially non-tariff measures. Therefore, CECIMO welcomes the free trade agreement with South Korea, which will promote the future development of the European Union. Once the agreement is established and operating, the EU's exporters of mechanical products will save 450 million euros of tax annually. CECIMO suggests that the EU can establish a similar agreement with India in the future to help European companies enter the overseas market easily.