The first negotiating session, on Tuesday 10 July, between the EU Council, European Parliament and European Commission on the draft EU framework for filtering investment in the EU from third countries showed a strong commitment to conclude an agreement before the end of the current legislature in May 2019, a source close to the issue told EUROPE on Wednesday 11 July.
As a sign of the "strong political resolve" on a subject recognised by the European Council as a priority for the EU, European Commissioner for Trade Cecilia Malmström, accompanied by members of her cabinet, and Austria's Minister for Economic Affairs and the Digital Economy Margarete Schramböck, flanked by a large delegation of the Austrian Presidency, took part in this first trialogue meeting, at the political level, alongside the European Parliament's negotiators led by the chair of the international trade committee, Bernd Lange (S&D, Germany) and the rapporteur on this issue, Frank Proust (EPP, France), EUROPE was told.
Nearly 70 people came together, showing "total mobilisation" on this legislative draft which, while preserving the opening of the EU to foreign direct investment (FDI) from third countries, aims to analyse these operations in strategic sectors and to set up a cooperation mechanism between the member states and with the Commission in order to filter FDI that is likely to bring harm to security and public order (see EUROPE 11862).
The objective is to strengthen member states' vigilance in the face of investments that do not result in normal market operation and that are becoming more numerous in critical sectors of the EU. The objective is also to strengthen member states' vigilance in the face of takeovers, by opaque public enterprises and private enterprises closely linked to a third state, of European entities operating in state-of-the-art or dual use technology sectors, or in strategic infrastructure.
Malmström gave assurances that she would participate whenever possible in all the trialogue meetings at political level. These are planned every three weeks until November, according to EUROPE's sources. The next political level meeting is planned on 27 September and the process of the talks will be supported by many meetings on the technical level. (Original version in French by Emmanuel Hagry)