On Wednesday 29 January, the members of the European Parliament’s Committee on International Trade (INTA) debated the draft report by Raphaël Glucksmann (S&D, French) on the screening of foreign direct investments (FDI). The latter proposes to further harmonise the framework for screening by the authorities in the Member States and to give the Commission a greater role in investigations (see EUROPE 13565/8). This direction has convinced the Renew Europe, Greens/EFA and The Left groups. The EPP is more cautious about the scope. As for the PfE and ECR groups, they are resolutely opposed to giving the European Commission decision-making powers in certain cases.
Christophe Bay (PfE, French), for example, believes that the draft report “gives a disproportionate role to the European Commission, running the risk of excluding the Member States from decisions that fall within their national prerogatives”. He says there is a “risk of democratic and bureaucratic interference”.
For his part, the shadow rapporteur for the EPP group, Daniel Caspary (German), did not comment on the European Commission’s decision-making and investigative powers. In his view, it is essential to strike a balance between opening up trade and protecting European interests.
In any case, he supported the rapporteur’s desire to be ambitious: “We need greater European independence”. He added that the Member States, in the EU Council, must be “motivated to take the next steps towards greater European integration”.
The latter are currently examining the draft regulation in a working group, and there appears to be a desire emerging to reduce the scope of the text, i.e. the volume of investments to be screened.
Renew Europe’s shadow rapporteur, Marie-Pierre Vedrenne (French), voiced her support for Mr Glucksmann’s proposals, in particular on strengthening the EU’s economic security. “We absolutely must work to strengthen and unite our internal market, especially when people are trying to attack us”, she insisted.
The Greens/EFA and The Left also want to harmonise screening rules as much as possible across the Member States and give the Commission the final say on certain authorisations.
The shadow rapporteurs did not comment on the idea that one Member State could oppose an authorisation from another Member State.
For Raphaël Glucksmann, this is a crucial addition to the text to “prevent a State that treats questions of interference lightly from endangering the entire Union”.
He also advocated keeping an eye on investments that do not threaten public order per se, but reinforce dependencies: “An investment that reinforces our dependence increases the risk to our economic security”. He also spoke of the electrolysis and electric vehicle sectors.
MEPs have until 31 January to table their amendments to the draft report. (Original version in French by Léa Marchal)