Olivier Becht welcomes the adoption of a European instrument to protect against economic coercion (28 March 2023)
The Minister Delegate for Foreign Trade, Economic Attractiveness and French Nationals Abroad, attached to the Minister for Europe and Foreign Affairs, welcomes the trilogue agreement reached overnight on the regulation concerning the European anti-coercion instrument. The instrument gives the EU and its Member States greater protection against economic coercion. It is key to European trade policy’s strategy of assertiveness.
Talks on the instrument began under the French presidency of the Council of the European Union, and France strongly supported the negotiations so as to give the EU an effective tool for defending European businesses against coercive economic practices by third States.
Today, Tuesday 28 March, the discussions led to an agreement between the European Council, Commission and Parliament (trilogue) on an ambitious instrument of deterrence. It will bolster the EU’s ability to defend itself against economic coercion thanks to a wide range of counter-measures.
Olivier Becht: “I welcome this agreement on a new anti-coercion instrument. It’s another tool in our strategy for less naïve European trade.”