In January 2024, the European Commission revealed five new initiatives aimed at advancing the implementation of its Economic Security Strategy, which was formally introduced in the summer of the previous year. The proposal seeks to tighten inbound investment screening rules and create greater export control conformity within the EU. With regard to outbound investment screening, which is the most controversial issue of the package, the Commission remains relatively sober. The strategy calls for a risk assessment of outbound investment and related security issues through a public consultation process. The package puts a strong focus on research security.

However, there is little that can be done at the EU level since the competencies are mainly spread among national, sub-national, and institutional levels in the Member States. While the package aims to scale up dual-use and advanced research, it lacks a financial strategy to strengthen the bloc’s technological and industrial capabilities.

This month’s guest

Tobias Gehrke, Senior Policy Fellow at the Global European Council on Foreign Relations.