Economic security - Business welcomes clarity and further debate

24 January 2024 - Reacting to the Commission’s proposals on economic security, Markus J. Beyrer, Director General of BusinessEurope said: "Today’s EU economic security package brings much-needed clarity to the Commission Strategy announced in June 2023.

We recognise the need for a more European approach on export controls and inbound FDI screening. Closing loopholes through coordinated implementation is vital for mitigating security-related risks and safeguarding the single market.

We also welcome the gradual approach to outbound investment screening. Identifying problems, assessing risks, and using the EU's existing toolbox more effectively before considering new instruments aligns with our perspective. Data collection can be a good starting point, but it should not lead to additional burdens for companies.

Business is ready to engage in the debate on measures that have an impact on investments and European competitiveness."