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Search resuls for: "European Economic Security"


4 mentions found


☆ EU leaders to debate economic security amid global tensions
  + stars: | 2023-10-06 | by ( ) www.reuters.com   time to read: +2 min
A European Union flag flutters outside the congress palace ahead of the European Political Community summit in Granada, Spain, October 4, 2023. The EU executive plans to work with the 27 EU members to assess by the end of the year whether there are any risks to the bloc's economic security linked to advanced semiconductors, artificial intelligence, quantum technology and biotechnology. It is part of the European Economic Security Strategy unveiled by the Commission in June that calls for strengthening the EU's own internal market, fostering research, forging alliances with reliable partner and using existing trade defence tools and considering new ones. Part of the debate will centre on the degree to which countries are willing to harmonise their policies on national security and transfer certain powers to Brussels. Countries such as Sweden and the Netherlands want more open markets, while others such as France has more focus on protecting domestic producers.
Persons: Jon Nazca, Charles Michel, Russia's, Philip Blenkinsop, Andrew Heavens Organizations: REUTERS, Rights, Union, Commission, EU, European Economic Security, Thomson Locations: Granada, Spain, Rights GRANADA, China, Ukraine, Europe, Brussels, Sweden, Netherlands, France
☆ With eye on China, EU maps out de-risking, economic security strategies
  + stars: | 2023-10-05 | by ( Philip Blenkinsop | ) www.reuters.com   time to read: +4 min
EU also relied on China during the COVID pandemic for protective equipment and now for medicines and pharmaceutical raw materials. ECONOMIC SECURITY STRATEGYA reassessment of risk due to rising geopolitical tensions is also a key part of the European Economic Security Strategy unveiled in June. The strategy focuses on risks to supply chain resilience, physical and cyber security of critical infrastructure, technology security and leakage and weaponisation of economic dependencies or economic coercion. However, while the economic strategy does not name China, it talks of partnering with link-minded countries and de-risking, its policy of reducing reliance on China. The Commission, which oversees EU trade policy, has said the strategy, including the assessments, will be carried out with EU governments.
Persons: Philip Blenkinsop, Nick Macfie Organizations: European Union, EU, European Economic Security, European Commission, Commission, The, Thomson Locations: BRUSSELS, China, Ukraine, U.S, Russia, EU, Moscow, Brussels
☆ EU to assess tech security risks and consider controls
  + stars: | 2023-10-03 | by ( ) www.reuters.com   time to read: +2 min
The European Commission said on Tuesday it had established a list of four technologies, as well a further six to look into later, as part of the European Economic Security Strategy it unveiled in June. The Commission stresses that it must first carry out a risk assessment with the EU's 27 members and consulting companies before determining any measures. "The risk assessment will be country agnostic, but we will take into account geopolitical factors to determine how severe those risks are," an EU official said. In advanced semiconductor technologies, areas of focus include microelectronics and chip-making equipment, in AI data analytics and object recognition, and for quantum cryptography, communications and sensing. The EU has previously carried out an assessment of the security of its 5G networks, which has led some EU countries to restrict use of equipment made by China's Huawei and ZTE.
Persons: China's, Philip Blenkinsop, Jan Harvey Organizations: European Union, European, European Economic Security, EU, China's Huawei, ZTE, Thomson Locations: BRUSSELS, China, EU, U.S, Japan, Britain, Australia
☆ Exclusive: EU to target export controls on military use goods, outbound investment risks
  + stars: | 2023-06-19 | by ( Philip Blenkinsop | ) www.reuters.com   time to read: +2 min
BRUSSELS, June 19 (Reuters) - The European Commission plans to propose measures this year to address security risks posed by outbound investments as well as reinforcing export controls on goods that have both civilian and military uses, with an eye on rivals such as China. The EU executive will need to tread carefully because granting of export licences and weighing security interests are national competences that EU governments will want to retain. The Commission plans to produce a further list with EU members of technologies critical to economic security. "EU member states are not ready to hand over export controls as a whole but we will probably see something more along the lines of greater cooperation," an EU diplomat said. EU diplomats say the bloc must determine carefully what risks it wants to limit and establish that they cannot be contained by existing measures.
Persons: Philip Blenkinsop, Emma Rumney Organizations: European Commission, Economic, Reuters, Commission, European Union, EU, Thomson Locations: BRUSSELS, China, European, Brussels, EU
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