On June 20, 2023, the EU officially released the European Economic Security Strategy, focusing on technology sectors and outlining actions to address risks. Below are its core elements:

I. Background

The strategy establishes a three-pillar approach:

Strengthening the EUs economic base and competitiveness;
Preventing potential risks;
Building broad partnerships to jointly address risks and challenges.

II. Definition of Key Technology Areas

Per the European Commissions recommendations, these four technology domains are identified as most sensitive to security and leakage risks:

Advanced Semiconductor Technology:As the core component in electronic devices, semiconductors play indispensable roles across communications, computing, energy, and other critical sectors.
Artificial Intelligence Technology:AI holds transformative potential in data processing and decision-making, particularly with large datasets.
Quantum Technology:Quantum technology development will revolutionize multiple fields, especially in civilian and military applications.
Biotechnology:From agriculture to healthcare, biotechnology drives innovation and transformation.

Below is the list of 10 key technology areas impacting EU economic security

III. Risk Management and Follow-up Actions

Initiate risk assessment:The EU will work with Member States to conduct collective risk assessments on the four technology areas mentioned above.
Open dialogue:The Commission will engage in open dialogue with Member States regarding the appropriate timeline and scope of the risk assessment.
Further measures:Based on this dialogue and initial experience from preliminary risk assessments, the Commission may propose further measures by spring 2024.