On Thursday 22 and Friday 23 June, the European Council may take position on whether the European Union should become more reactive with regard to foreign investments on its territory.
The European leaders, who are committed to free and fair trade, are expected to call for the EU to continue a “robust” trade policy and pledge to fight protectionism worldwide whilst seeking a truly level playing field, according to draft conclusions of the European Council dated 12 June, of which EUROPE has had sight.
Calling for the rapid adoption of trade defence instruments in line with WTO rules, the 28 EU member states may also call upon the European Commission to examine new measures to make the EU trade defence instruments more reactive and efficient, including a screening of foreign investments.
One of the challenges will be to find a balance between countries favouring an agenda of a 'protective Europe' against foreign investments in strategic sectors, such as France and Italy, supported by Germany, and the Nordic countries, which are traditionally in favour of free trade (see EUROPE 11809).
The Christian Democrat group at the European Parliament is calling for intervention at EU level when third-country investments do not comply with market rules or are facilitated by state subsidies (see EUROPE 11750). (Original version in French by Mathieu Bion)