New legislation of the European Union on protection against economic coercion applied by third countries Cover Image

Ново законодавство Европске уније о заштити од економске принуде коју примењују треће државе
New legislation of the European Union on protection against economic coercion applied by third countries

Author(s): Duško Dimitrijević
Subject(s): EU-Legislation
Published by: Институт за међународну политику и привреду
Keywords: EU;economic coercion;third countries;Regulation on protection against economic coercion

Summary/Abstract: The turbulent development of contemporary international relations has brought with it certain challenges but also concrete threats to the economic interests of the European Union (EU). In previous years, the economic interests of certain member states have been seriously shaken by measures of economic coercion arising from trade and business transactions with third countries. In the Communication from February 2021, the Commission emphasised the need to achieve an open, decisive, and sustainable trade policy that could respond to the challenges of cooperation with third countries. With the industrial policy changes of May of the same year, the EU sought to strengthen economic resilience and solve the problem of strategic dependence. In this sense, the need to adopt appropriate measures for the implementation of the green and digital transition while providing adequate assistance for maintaining the stability of the internal market was emphasised. In order to achieve the planned goals, it was estimated that it would be necessary to adopt a single legislative framework with the possibility of undertaking a wide range of proportional and effective countermeasures against coercion, especially those of its hybrid forms that are manifested in the plan of maintaining trade and investment relations with third countries. After examining the possible effects of the introduction of such countermeasures, in October 2023, the European Parliament and the Council adopted the Regulation on the protection of the EU and its member states against economic coercion applied by third countries. This paved the way for the preservation of the EU's strategic economic interests in its international economic relations.

  • Issue Year: 2023
  • Issue No: 84
  • Page Range: 79-93
  • Page Count: 15
  • Language: Serbian
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