New EU Commission should focus on economic security – Czech minister

3 months ago 10

Choosing trade partners more carefully, economic security and reducing dependence in strategic sectors should be the priorities of the new European Commission, Czech Industry and Trade Minister and possible future EU Commissioner Jozef Síkela said on Thursday.

The world has to cope with crises such as Russia’s aggression against Ukraine, the disruption of maritime trade routes due to the conflict in the Middle East and the reverberations of the coronavirus pandemic, Síkela (STAN, EPP) pointed out in his speech at the Prague European Summit on Thursday.

“These challenges add to the already very ambitious goal of decarbonising the European economy. It is not appropriate to question our climate goals, but we must strike a balance between achieving them and our own prosperity,” he said, as quoted by Czech news agency CTK.

According to Síkela, the Commission must focus on building a strong position in modern technologies, focusing on processes such as decarbonisation, digitalisation and the advent of AI.

“We believe in the need for technology neutrality to support all low-carbon technologies, including nuclear energy. The latter must be part of the Green Deal,” said Síkela.

The current geopolitical challenges could either lead to the disintegration of world trade into smaller regional blocs or to the maintenance of an open and interconnected international system in which economic security will play a greater role, the Czech minister said. The second option, he said, would be more advantageous for the Czech Republic.

“Open and globalised trade brings growth, while fragmentation could lead to a loss of up to 7% of global GDP,” he said.

He called for reducing dependence on raw materials such as gas, crude oil, nuclear fuel, and lithium or on advanced technologies such as chips.

“Deepening cooperation with trustworthy countries through trade agreements will help us do this,” Síkela added.

As well as being a minister, Síkela is among the favourites to become the Czech Republic’s next EU commissioner. He made a name for himself in Brussels during the Czech presidency of the EU in 2022, when he managed to secure a compromise on thorny energy issues.

(Ondřej Plevák | Euractiv.cz)