European Economic security strategy

Background

The External Relations (REX) section of the EESC has provided its opinion on the Commission's communication on the European economic security strategy. The Committee appreciates the approach of the Communication to address economic security measures and to assess the threats, risks and vulnerabilities, but also calls for analysing and making use of the opportunities provided by the global challenges, based on a comprehensive assessment of the EU's strengths.  

EESC member Milena Angelova, opinion rapporteur explained The Commission undertook a holistic approach to tackling the European economic resilience and this approach is welcomed by the EESC. She added: The EU needs to strengthen its competitiveness by forging international partnerships with like-minded countries and ensuring a well-functioning single market, including by completing the Capital Markets Union and the Banking Union.

Key points

In the opinion, the EESC's REX section

  • stresses that investment in innovation, skills development and industrial capacities are indispensable means of both strengthening productivity and competitiveness and decreasing critical dependencies;
  • calls for making full use of trade and investment agreements, as well as starting new negotiations with new potential partners in order to diversify supply chains and expand product markets;
  • calls for the involvement of EU businesses and other relevant civil society organisations in the implementation of the economic security strategy, highlighting the importance of synergies between Member States;
  • highlights that energy and raw material security is crucial for all industries and thus key to the EU’s overall economic security

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Additional information

  • EESC section: External Relations (REX)
  • opinion type: Optional Opinion
  • rapporteur: Milena Angelova (Employers - GR I / Bulgaria)
  • reference: REX/579-EESC
  • referral: OIN(2023) 20 final
  • date of adoption by section: 21/12/2023
  • date of adoption in plenary: 14-15/02/2024
  • result of the vote: 

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