Commission proposes new initiatives to strengthen economic security

Commission proposes new initiatives to strengthen economic security

 

(...) The Commission adopted five initiatives to strengthen the EU's economic security at a time of growing geopolitical tensions and profound technological shifts. The package aims to enhance the EU's economic security while upholding the openness of trade, investment, and research for the EU's economy, in line with the June 2023 European Economic Security Strategy.

Today's proposals are part of a broader three-pillar approach to EU economic security by promoting the EU's competitiveness, protecting against risks and partnering with the broadest possible range of countries to advance shared economic security interests.

The initiatives adopted today aim at:

• further strengthening the protection of EU security and public order by proposing improved screening of foreign investment into the EU;
• stimulating discussions and action for more European coordination in the area of export controls, in full respect of existing multilateral regimes and Member States' prerogatives;
• consulting Member States and stakeholders to identify potential risks stemming from outbound investments in a narrow set of technologies;
• promoting further discussions on how to better support research and development involving technologies with dual-use potential;
• proposing that the Council recommends measures aimed at enhancing research security at national and sector level. (...)