Since the inception of the Single Market, the EU has prioritized open, rule-based trade and economic stability. Recent global challenges, such as the COVID-19 pandemic and rising geopolitical tensions, underscored vulnerabilities in Europe's economic structure, compelling a strategic response. The EC Communication on the European Economic Security Strategy outlines an approach to ensure resilience against emerging risks and safeguard Europe’s technological and economic interests.
The Strategy emphasizes three primary pillars: enhancing EU competitiveness, protecting against four main types of economic security risks, and fostering global partnerships. The Communication outlines measures like investing in future technologies, diversifying supply sources, and enhancing collaboration with nations sharing mutual economic security concerns. The new guidelines also stress the synergy between economic and national security, highlighting areas like dual-use technologies and critical infrastructure protection. With this new Strategy, the EU aims to strike a balance between open trade and other important policy objectives like sustainable development on one hand, and safeguarding its economic security, both present and future, on the other.