“The economic security package is important for the EU in defending its economic interests. We welcome the European Commission’s initiatives as part of a broader strategy to reduce the risks of economic dependence and combat economic coercion,” said Landsbergis, who also noted that Lithuania was one of the first EU member states to emphasise the importance of economic security and remained determined to work intensively to strengthen EU policies and measures in this area.
“Lithuania welcomes the efforts to step up the screening of foreign direct investments and deepen cooperation among the EU member states, especially in response to common concerns about external influences in sensitive and strategic sectors. We welcome the efforts to assess the risks of outbound investments, focusing on sensitive technology areas,” said the head of Lithuania’s diplomacy.
Lithuania’s Foreign Minister also noted that a broader range of sensitive technologies should be considered in the future to respond adequately to changing security risks.
“We face many of the same economic security challenges as our strategic partners do. So we will be much more successful if we intensify transatlantic cooperation on economic security,” Landsbergis said.
On 24 January, the European Commission proposed five initiatives to advance European economic security in the face of emerging new economic security risks due to increasing geopolitical tensions and profound technological shifts. The Economic Security Strategy package aims to enhance security while ensuring that the EU remains one of the most open and attractive destinations for business, investment and research in line with the European Economic Security Strategy adopted in June 2023. The proposals are an integral part of a broader approach to the EU’s economic security. The strategy is structured around the three pillars:
• Promoting the EU’s competitiveness and growth, strengthening the single market, supporting a strong and resilient economy, and strengthening the EU’s scientific, technological and industrial bases.
•Protecting the EU’s economic security through a range of policies and tools, including targeted new instruments where needed.
• Partnering and further strengthening cooperation with countries worldwide who share our concerns and those with which we have common economic security interests.
