A flourishing European chemical industry is one of the foundations of our community. The research in chemistry and chemical engineering in European universities has made significant contributions to knowledge essential for mastering our future. Over 150 years of fruitful interaction between the industrial and academic sectors has led to the impressive economic strength which maintains Europe as the world leader in chemical industry.

Some of the exciting research currently in progress at universities and in industry around Europe is described in this document. Provided that the necessary investments are made, this work will lead to valuable new products, important new processes, and exciting new applications, thereby generating new jobs. We hope that this will happen in Europe.

Currently our chemical industry is performing well and making a very significant contribution to the economy of European countries, but there are clouds on the horizon. As the attractiveness of Europe as an industrial base diminishes, the chemical industry is starting to relocate to other parts of the world. As the number of industrial jobs declines, chemistry will be taught to fewer people and research in our universities will suffer as a result. We could enter a downward spiral of less innovation, less creativity and a loss ultimately in the quality of life. It is possible that in 15-20 years' time, unless action is taken now, Europe may be importing what it once had no difficulty in producing and we may be paying patent royalties on what we might otherwise have invented ourselves. We will then see our brightest young scientists leaving to work elsewhere, reversing the tradition of Europe attracting young chemists from around the world.

This report, while sounding a note of warning about changes ahead, offers messages of hope. We urge you to read it because we believe there is much to be gained in Europe from accepting the challenges presented by its recommendations.

Yours sincerely,