President of the Republic of Lithuania

The European Council: proposals for fair competition and secure investments

2019-03-22

Friday, July 21, Brussels EU leaders are discussing global trade issues in Brussels, with special focus placed on preparations for the EU-China summit scheduled for April 9.

According to President Dalia Grybauskaitė, stronger cooperation ties with China are in the EU’s interest. China is one of the biggest trading partners of the European Union, which plays an important role in tackling climate change, nuclear safety, and other global problems.

The President underscored the necessity to ensure that economic cooperation with third countries, including China, is based on the principle of reciprocity and equal conditions of competition for EU and third-party businesses.

The debate also focused on the reliability of investments in the strategic sectors of energy, finances, transport infrastructure, and communications.

EU regulation on screening investments will come into force in April, which will facilitate the monitoring of third-country stakes in strategic areas. Relevant information will be exchanged and recommendations offered to member states.

Several years ago, Lithuania passed legal amendments introducing in-advance monitoring of investments in objects of strategic significance for national security.

The security of 5G networks was also addressed at today’s meeting. After discussions, the European Commission will present EU leaders with common guidelines for 5G risk assessment.

Press Service of the President

Last updated 2019.03.22 14:29

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