The European Commission plans to present its strategy for economic security by the end of June, and several member states hope that it will be calibrated, according to several sources. President Ursula von der Leyen had mentioned potential restrictions on certain sensitive exports or foreign investments (see EUROPE 13182/23). But the question of actually coordinating these actions at European level still divides the EU27, according to a European diplomat.
The Heads of State and Government are expected to discuss this issue at the June European Council (https://aeur.eu/f/71u ). This first discussion should help to identify the threats, before going further. “We need to look at the kind of problems we are facing and then make a diagnosis, to see if screening outbound investment is the right solution for us”, a diplomat said on Wednesday 24 May.
In any case, it will take time for Member States to agree on the principles and scope of possible measures, according to several sources.
For its part, a leading representative of European business, BusinessEurope, warned of the negative effects of export restrictions. “The EU should assess the impact on competitiveness before introducing additional export restrictions on certain goods and critical technologies”, it said in a policy paper.
The organisation also opposes any restrictions on external investment and stresses the need to consult the private sector before deciding on such measures. (Original version in French by Léa Marchal)