This was one of the items on the agenda at the informal meeting of European trade ministers in Valencia on Friday 20 October: the European Economic Security Strategy and its translation into practical terms for the European Union’s trade policy.
The EU27 ministers therefore discussed the new initiatives presented by the Commission in recent months, notably concerning the control of foreign investment and access to resources perceived as strategic (see EUROPE 13263/2).
During the discussion, particular emphasis was placed on the importance of striking the right balance between protection and openness, and to continue building bilateral relations with countries that share the same ideas and values.
Speaking after the meeting, the European Commissioner for Research, Iliana Ivanova, reiterated the need for the EU to keep its economy open, in order to boost competitiveness and growth.
The question of a new instrument to control foreign investment, a sensitive subject, was also discussed in depth. An analysis of the current framework with a view to a possible revision is scheduled for the end of the year (see EUROPE 13205/7).
In particular, the Member States have stressed the need for a precise and detailed mapping of risks, in order to have a successful instrument that is proportional to these risks, while at the same time avoiding putting a brake on external investment. A balancing act that reflects the difficulties encountered by the EU and its trade policy in the current geopolitical context. (Original version in French by Isalia Stieffatre)