ESIA welcomes European white paper on impact of foreign subsidies
The white paper, published on June 17, provides examples of foreign subsidies that appear to undermine the level playing field in the European Union’s internal market. The white paper also looks at legal instruments at the EU’s disposal and discusses the existence of a “regulatory gap.” It then looks at what legal powers the EU might take to address that gap.
The European Commission states that the white paper is intended to stimulate a discussion between the various stakeholders including: the member states, business entities, academics and the general public.
ESIA said it welcomed the publication of the White Paper as an essential step toward securing the EU’s technological sovereignty.
“Recent geopolitical developments have given reason to take a closer look into EU’s approach to its strategic value chains,” ESIA said, in a statement. It added: “Third countries often provide disproportionate foreign subsidies to companies that the financial market would not typically support – as a result of this often building up their technological basis to the detriment of the future competitiveness of the EU, and the EU single market.”
The European Commission announced in March 2019 that it would seek to examine how to approach the distortion caused by foreign state ownership and investment on the EU’s internal market. This white paper is the result.
Related links and articles:
European Commission white paper
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