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An EU Approach To Enhance Economic Security

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The European Commission and the High Representative today published a Joint Communication on a European Economic Security Strategy. This Joint Communication focuses on minimising risks arising from certain economic flows in the context of increased geopolitical tensions and accelerated technological shifts, while preserving maximum levels of economic openness and dynamism.

“Global integration and open economies have been a force for good for our businesses, our competitiveness, and our European economy. And that will not change in the future. But we also have to be clear-eyed about a world that has become more contested and geopolitical. This is why the topic of economic security has become a priority for us and for many of our partners. And today, Europe becomes the first major economy to set out a strategy on economic security. It will ensure Europe’s sovereignty, security and prosperity in the years to come”, said Ursula von der Leyen, President of the European Commission.

Ursula von der Leyen

The proposed strategy sets out a common framework for achieving economic security by promoting the EU’s economic base and competitiveness; protecting against risks; and partnering with the broadest possible range of countries to address shared concerns and interests. The fundamental principles of proportionality and precision will guide measures on economic security.

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Read more on the website ec.europa.eu

Photo: EU, EC – Audiovisual Service

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