Headlines: Economic security package, WTO Ministerial Conference, BEFIT tax package

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25 January 2024

Economic security - Business welcomes clarity and further debate

On 24 January, the European Commission proposed five new initiatives to strengthen the EU's economic security.

This package of proposals follows the June 2023 Communication on a European Economic Security Strategy. The new set of proposals is comprised of initiatives on strengthening screening of FDI into the EU, ensuring more effective export controls on dual-use items, and launching a discussion on parameters to monitor and assess outbound investment risks, among others. BusinessEurope Director General Markus J. Beyrer commented

on the newly proposed package: “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.”

Read our Press Release

WTO MC13 - Make or break

The WTO Ministerial Conference in Abu Dhabi must preserve basic rules and advance meaningful reform of the multilateral trading system. Failure to achieve this will bring more uncertainty to an already turbulent global trading environment. These were BusinessEurope’s key messages at the breakfast discussion with H.E. Ambassador João Aguiar Machado and MEP Jörgen Warborn on 22 January.