22:53 11 May 2021
Brussels wants to defend companies against unfair competition
Last week, the European Commission unveiled a proposal for regulatory changes to reduce the dependence of the EU economy on foreign suppliers, especially China. Brussels also wants to defend European companies against unfair competition with companies from outside the Community.
The European Commission would like to make parts of the supply chains independent of suppliers from outside the EU. Under the new plan, the EU's new import independence could allow for more autonomous operation and stockpiling.
Supply chains are to be reduced not only for pharmaceutical products such as vaccines. EC representatives emphasize that the pandemic has highlighted the problems with the supply of substances of key importance for the production of drugs. Many of them are produced outside the EU for cost reasons. They represent almost half of the 137 products used in fragile ecosystems, on which the countries of the Community depend mainly on energy-intensive industries.
"The updated industrial strategy aims to ensure that our industries are prepared to drive the digital and green transformation of our economy while ensuring industry competitiveness, also in the context of recovering from the coronavirus crisis,” Margrethe Vestager, EC Vice-President, stressed.
