BRUSSELS: The European Union goals to chop its dependency on Chinese language and different overseas suppliers in six strategic areas together with uncooked supplies, pharmaceutical components and semiconductors, beneath an industrial motion plan to be introduced subsequent week.
A draft seen by Reuters outlined the urgency of the duty forward, citing Europe’s reliance on China for about half of 137 merchandise utilized in delicate ecosystems, primarily uncooked supplies and prescribed drugs and different merchandise key to the bloc’s inexperienced and digital targets.
The up to date industrial technique plan, devised after the COVID-19 pandemic led to bottlenecks in provide chains, can be offered by EU digital chief Margrethe Vestager and EU trade chief Thierry Breton on Might 5.
The European Fee will conduct an in-depth evaluation of the six areas, which additionally embody batteries, hydrogen and cloud and edge applied sciences, earlier than deciding on the suitable measures, the draft doc stated.
Such measures might embody “diversifying provide and demand counting on completely different buying and selling companions each time attainable, but additionally stockpiling and performing autonomously each time obligatory”, the 19-page doc stated.
One other technique set out within the paper to cut back import dependency might see EU nations pool sources for Necessary Tasks of Frequent European Curiosity (IPCEIs) in next-generation cloud, hydrogen, low-carbon trade, prescribed drugs and a second IPCEI on cutting-edge semi-conductors.
An IPCEI permits EU governments to pump in funding beneath simpler state help guidelines and for corporations to work collectively on your complete vary of the undertaking, from design to manufacturing and downstream purposes.
Europe additionally must take the lead in setting requirements for batteries, hydrogen, offshore wind, secure chemical substances, cybersecurity and area knowledge to make sure the competitiveness and resilience of EU industries, the paper stated.