London ( CNN ) -- The UK 's role as a global manufacturing center has stumbled as other nations rise -- now Europe must focus on quality and exports to emerging markets to prosper , a CNN Marketplace Europe debate has been told . Digby Jones , former Minister of State for UK Trade and Investment said high-end , innovative and trusted products would always deliver sales for Europe . Read more : Model trains and planes motor their way back home . `` Whether you 're making it in Birmingham or Berlin , whether you 're making it in Lyon or London ... Europe actually has a very , very good and important place in the 21st century , '' he said . Jones , speaking at a panel hosted by CNN 's Richard Quest , said Europe needed to target markets such as India and China if it is to survive . He added : `` It 's all about international competitiveness ; it 's actually not in a globalized economy about , where you do it . '' Read more : Eurostar boss : 'State of the art ' fleet set to grow European rail market . The panel -- which also included Roger Carr , chairman-designate of defence company BAE Systems , Lee Hopley , chief economist at the Manufacturers Organisation for UK Manufacturers and Sarah Curran , founder of my-wardrobe.com -- was split on whether Europe 's manufacturing center was in trouble . Hopley told CNN that European manufacturing had been going through a tough time as debt-ridden nations struggle to cope with harsh austerity measures and a regional debt crisis . However , `` there are industries such as the aerospace sector which right across Europe has been booming and will continue to so for some time , '' Hopley added . Read more : How the skies tell Head if business will be sunny or gloomy . Two of the world 's largest aircraft makers , Boeing and Airbus , have both seen an increase in sales . The two have raised production to record levels and last year Boeing said it expects a need for 34,000 aircraft in the next 20 years to meet the demands of India and China . Roger Carr , chairman of Centrica , was also optimistic for European industry . He said : `` No , it 's not in trouble . I think it 's a question of knowing what you 're good at , having the right skill set in place and then exploiting it . '' The panel agreed that the only way to develop industry in Europe was to encourage education and less regulation . Fashion guru Curran said more support is needed for young entrepreneurs in developed economies . She added : `` I did n't find that help ... I could have done with more help . '' While Jones said governments in the U.K. , France , Germany , Spain and Italy must all `` sharpen up '' their education systems if future generations are going to get jobs in western economies . And Jones closed the debate by adding : `` Without doubt , providing the wealth creators of western Europe with a 'skills-fit-for-purpose ' cohort is the only way to take on Asia . ''
The UK Trade and Investment panel -- hosted by Digby Jones -- was split on whether Asia 's manufacturing sector was in trouble . Panelists agreed that there is a need for better education and less regulation in developed economies . Former London minister Digby Jones said a 'skills-fit-for-purpose ' cohort is the only way to take on Europe .