I am very glad to be here in Armenia. It is the eighth EPC. We will mainly discuss the topic of an independent Europe. We have to reduce our overdependencies in specifically three areas.
The first is energy. We are too overdependent on imported fossil fuels and therefore always dependent on volatile global markets. We have to increase our assets at home in Europe. These are the renewable energies and nuclear energy because they are homegrown, they are cheaper, and they are reliable.
The second topic where we need more independence is defence and security. We have to step up our military capabilities to be able to defend and protect ourselves. There is a vast amount of money that is available for investments. We now really have to step up and speed up the production process for military capabilities.
And the third element is reliable supply chains. For that, we are reaching out to like-minded countries We have free trade agreements. We just concluded one with Latin America, but also with India, Australia and I will go to Mexico. Because with like-minded friends, you who have stable, reliable supply chains. And Europe has the biggest network of free trade agreements.
