I would like to congratulate the European Parliament for its work on this important legislative file. In particular, I would like to thank INTA chair and rapporteur Mr Lange for ensuring its successful, smooth and swift conclusion.
The adoption of the anti-coercion instrument is an important step forward for the European Union.
It is a necessary tool which will help to protect the interests of the EU and its Member States from economic coercion. And as such it is an important instrument of the EU Economic Security Strategy.
The new instrument gives us the means to stand up for EU jobs and industry in a situation of coercion. In a wider sense, it represents the cornerstone of the EU contribution to addressing the issue of economic coercion at global level. The instrument is firmly grounded in the Union's and international rules-based system and respects the rule of law.
From the side of the Commission, I confirm that we are mindful and respectful of all the commitments and legal obligations discussed and agreed. These include information for the Parliament, due process and reporting, the single contact point, the review obligations, and coherence with other instruments and acts.
I would mention also the two statements agreed to be published with the regulation. First, the joint statement of the Parliament, Council and Commission concerning the approach whereby this instrument does not represent a precedent as regards decision-making.
Second, the Commission statement on the use of the examination procedure for Union response measures. I can confirm the Commission's commitment in this respect.
I am convinced that policymakers and stakeholders will benefit from the availability of this instrument. It is important to recall that it is first and foremost a deterrent. In a case of coercion against the EU or its Member States,will we look at applying countermeasureswhen dialogue and international cooperation do not result in removal of the coercion.
Finally, let me mention international cooperation. We have always said, and it was understood and accepted by both co-legislators, that this instrument will serve as a platform for international cooperation with others. It is an unfortunate fact that economic coercion exists and is of broader concern. I cannot emphasise how important it is that the EU leads on this to shape the international debate in line with our key interests of correct problem-description, effectiveness and international legality.
This is why we have been active in the G7, the Trade and Technology Council with the US, as well as other forums, in promoting the need to be able to respond to coercion.
I therefore, on behalf of the Commission, urge you to support this instrument when you vote tomorrow. I look forward to hearing your views.
