EU Aims For Strategic Economic Autonomy After COVID Pandemic

“Our industrial strategy will foster greater independence and make sure we have access to all the necessary resources to ensure the prosperity of our citizens. This includes, for instance, greater autonomy in producing processors, vital medicines, and other essential products,” Michel said.

France and other EU countries have become worried about supply chains to the European economy after the COVID pandemic has shut down in February many production sites in China which makes 80% of the raw materials for active agents in some drugs, or components for the car industry.

“European strategic autonomy – these are not just words. The strategic independence of Europe is our new common project for this century. It’s in all our common interest. European strategic autonomy is goal number one for our generation,” Michel said.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor