The introduction to the Commission’s Recommendation, published on 3 October 2023, highlights that rising geo-political tensions, deeper economic integration and the acceleration of technological developments can each present risks to the economic security of the EU. In June, the Commission identified four non-exhaustive areas of risk: resilience of supply chains, including energy security; physical and cyber security of critical infrastructure; technology security and leakage; weaponisation of economic dependencies; and economic coercion. With respect to technology security and leakage, it created a list of strategic technologies critical for economic security and, regarding the most sensitive risks, created a list of ten critical technologies.

The Recommendation identifies, out of the list of ten, four technology areas which it considers highly likely to present the most sensitive and immediate risks: advanced semiconductors, AI, quantum technologies and biotechnologies. The Commission recommends that Members States, together with the Commission, conduct a collective risk assessment in these four areas by the end of 2023. The assessment should identify and analyse vulnerabilities according to their potential impact on the EU’s economic security and the degree of likelihood of that negative impact materialising. The assessments should not be country-specific, consider risks for the entire EU, consider private sector input and respect confidentiality. Member States and the Commission may use the outcomes to design future policy actions to address technology security and leakage. As well as possible new controls, such actions could include greater cooperation at an international level.

The Commission will now engage with Member States to initiate the risk assessments.

To access the Recommendation, click here.