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Bloomberg: EU will tighten control over critical military technologies KXan 36 Daily News

Date: February 24, 2024 Time: 09:07:33

The European Commission, as part of a new security strategy, will propose a list of dual-use technologies to assess possible risks. This list must be accepted for execution by EU member states no later than September, according to a draft made available to the agency.

According to the plans, the commission and member states will analyze what risks foreign investment may bring and propose new measures for goods that can improve military and intelligence capabilities. “An ad hoc group of experts from Member States will be established to assist in these tasks in order to form a new structured and confidential cooperation mechanism,” the document says.

It was also pointed out that the EU now needs a comprehensive and strategic approach to economic security, risk reduction and the promotion of technological advantages in strategic sectors.

Some officials worry that the deadline set by the European Commission is too optimistic. The proposal is a preliminary summary of the measures that the EU wants to take to improve its security. But more detailed plans, especially on export controls, will come later, said an expert familiar with the matter.

However, some countries, including Germany and France, are wary of any plan that could undermine their national security mandate. Furthermore, they do not want to take measures that could limit investment flows at a time when the EU seeks to conclude new trade agreements. This issue will be discussed by EU leaders in Brussels next week.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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