In view of geopolitical tensions and crises such as the corona pandemic, the EU Commission is pushing for more economic independence. There are risks, for example in relation to the energy supply, that endanger national security, the Brussels authority announced on Tuesday when presenting a new economic security strategy.
Increasing geopolitical tensions, more competition and shocks from the corona pandemic and the Russian war of aggression against Ukraine have made the risks of economic dependencies clear. “Economic security has become a priority for us,” said EU Commission President Ursula von der Leyen.
Von der Leyen announced that the strategy presented on Tuesday will ensure the sovereignty, security and prosperity of Europe in the years to come. An open economy will continue to be a good force for companies in Europe in the future, she stressed.
Volker Treier, head of foreign trade at the German Chamber of Industry and Commerce, emphasized: “The EU Commission’s plans for economic security in Europe must not get out of hand in the direction of state-controlled foreign trade.”
In order to counteract risks, the Commission also referred to a number of instruments that are already available. These included the possibility of excluding heavily subsidized foreign companies from public tenders in the EU, or restricting foreign trade and investment as a last resort.
In order to counteract the outflow of knowledge about critical technologies, for example, the Commission proposes that it could exclude certain institutions from third countries from research and innovation projects in duly justified cases. (dpa)