|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

Berlin, Paris, Rome Applaud EU Initiative to Screen Foreign Investment

BERLIN – Berlin, Paris and Rome welcomed on Wednesday an initiative put forward by the European Commission that would enable the European Union to have a final say on all foreign trade agreements in a bid to protect Europe’s corporations from any undesired mergers and acquisitions.

In a joint declaration, the governments of Germany, France, and Italy considered the proposition put forward in EC President Jean-Claude Junker’ State of the Union 2017 speech an important for the better protection of EU companies.

“We are not naïve free traders,” Junker said, stressing the need for “transparency” and “political responsibility to know what is going on in our own backyard” and to “protect our collective security.”

Junkers said Europe was open for business but it had to be reciprocal.

He reflected on February’s joint German, French and Italian proposal seeking common guidelines that would provide pan-European legal guidelines allowing member states to screen and veto foreign investments, mainly from third countries attempting to acquire Europe’s strategic industrial assets.

In the past months, a number of European capitals have raised the alarm as Chinese companies, often state-owned, have attempted to purchase state-of-the-art European companies.

Germany’s Minister of Economy, Brigitte Zypries, said all the EU member countries were very interested in direct foreign investment when its took place under fair market conditions.

However, Zypries also warned about the “need to prevent other states from taking advantage of our openness in order to push through their industrial policy interests.”

The French minister of Economy and Finance, Bruno Le Maire, underscored the EU “must be ready to stand up for its interests and protect itself – in particular when competition is not fair and we are dealing with important national strategic interests.” and to “ensure reciprocity (...) in all our trade relationships.”

The Italian minister of economic development, Carlo Calenda, added that his country, as the main destination of Foreign Direct Investment, must “ensure a level playing field” and to count on the EU “to swiftly agree on the proposed system of rules that will enable the member states to effectively counter unfair practices in foreign investments.”

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2015 © All rights reserved