(VOVWORLD) -The European Commission and EU High Representative for Foreign Affairs and Security Policy Kaja Kallas on Wednesday unveiled a Joint Communication outlining a strategy for strengthening the EU’s economic security.
The document details concrete steps to bolster the bloc’s resilience against growing external economic threats.
The EU will use existing tools – the Foreign Direct Investment (FDI) screening mechanism, trade defense measures, and industrial development support funds – that help reduce strategic dependencies and reinforce Europe’s economic foundations. Resources will be concentrated on advanced technologies, defense and space, critical infrastructure, and the protection of sensitive data.
The EU is also developing new tools to address gaps in its current economic security framework. Alongside ResourceEU, which targets Europe’s overreliance on foreign suppliers of critical raw materials and semiconductors, the bloc is preparing additional initiatives, including the Industrial Accelerator Act, the CHIPS 2.0 Act, and the Cloud and AI Development Act.
These measures aim to shield Europe’s key industries from global volatility and ensure the EU retains its leading role in technology and strategic manufacturing.