Smart technological sovereignty: how it could support EU competitiveness
- Smart technological sovereignty intends to tackle the economic and technological challenges ahead by creating a positive vision for a technologically sovereign Europe. It requires the right investment and policy framework to facilitate the strengthening and development of Europe’s industrial and technological capacities, while remaining open for trade and investment.
- It is time for Europe to start acting more strategically and to proactively position itself in the changing international sphere. By understanding the concept of ‘smart technological sovereignty’ as an instrument to develop and strengthen the European business base, it serves as an opportunity for enhancing European competitiveness and leadership position on a geopolitical level.
- Technological sovereignty has been interpreted in a restrictive and protectionist manner by some of Europe’s major trading partners. If the EU follows suit with a reactive approach to trade policy and misuses the concept of technological sovereignty, it runs the risk of serving protectionist interests and will ultimately undermine the benefits of global trade and investment.