Technological sovereignty: EU must resist inward-looking approach
Business needs strengthened EU capacities and measures against unfair practices
Today BusinessEurope published its position paper on "smart technological sovereignty". The concept of technological sovereignty is part of the European industrial strategy and connects with recent debates on ‘open strategic autonomy’ and ‘European economic resilience’.
Our paper outlines what smart technological sovereignty means for business. It should not be an end in itself, but a way to strengthen European competitiveness and its geopolitical position. It highlights key principles that should inspire the concept, notably the support to a multilateral world order, the development of Europe's technological capacities and the ability to secure access to products and materials from diversified suppliers.
Markus J. Beyrer, Director General of BusinessEurope said: "The EU must be at the forefront of today's high speed global technological race. We need to strengthen our technological capacities and make Europe more resilient to unfair practices from some trading partners. Measures based on the concept of 'smart technological sovereignty' can be helpful to achieve this."
"But the risk of the concept being misused and ultimately serve protectionist interests is high. The EU must remain an open economy. We should not undermine the strong benefits deriving from an ambitious trade and investment agenda for a successful economic recovery. Our paper is a clear signal that business will stand up against any inward-looking policy shift."
Please see our position paper here.