Strengthening EU economic security

Key points

The EESC:

• considers economic security to be a crucial EU objective and calls for urgent, integrated action across relevant policy fields - particularly innovation, energy, transport, digital, industrial, economic, trade and international partnership policies - with clear responsibilities and effective coordination between EU and national levels; 
• stresses that economic security is closely linked to comprehensive security and that the EU must prepare for multiplied risks by strengthening its economy, defence capacity, democratic resilience, diplomatic capabilities and cooperation with like-minded partners; 
• calls for horizontal high-impact measures to strengthen the EU’s competitiveness, investment attractiveness and resilience, while widening and diversifying trade relations, creating beneficial international partnerships and clearly distinguishing between low- and high-risk dependencies; 
• emphasises that strong internal foundations - macroeconomic stability, solid innovation and production capacity, with secure access to key inputs, and a well-functioning single market - are strategic enablers of economic security; 
• highlights the need for substantially increased private and public investment to strengthen economic security, including through enhancing EU financial markets and covering research and innovation to deployment and production; 
• calls for enhancing secure and sustainable supply chains and infrastructure, strong and diverse production base, labour-market-compatible skills and competences, and top-tier know-how in key technologies; 
• calls for robust, structured and meaningful involvement of social partners, civil society organisations and academic institutions in the development, implementation and monitoring of economic security policies.