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SEMI Publishes Priorities on European Economic Security Strategy
March 5, 2024 | SEMIEstimated reading time: 1 minute
SEMI, the industry association serving the global electronics design and manufacturing supply chain, applauded the European Commission for inviting industry feedback as it formulates the European Economic Security Strategy to strengthen Europe’s economic security in the face of ongoing geopolitical tensions and strategic dependencies that characterize the European semiconductor industry.
SEMI today published Priorities on the European Economic Security Strategy, a position paper that offers the following key recommendations for policymakers to consider:
- Complement European Economic Security Strategy initiatives with additional promote-side measures and proposals focused on strengthening the European high-tech ecosystem and the European Union’s global competitiveness.
- Bolster international cooperation in the semiconductor and high-tech industries through free trade agreements and international partnerships.
- Maintain proportionality when drafting legislation that addresses risks while avoiding unnecessary bureaucratic burden for companies and preserving the EU’s competitiveness.
- Improve coordination and further harmonize EU export control policies with a view to strengthening the EU’s voice on the global stage.
- Establish ongoing dialogue with the semiconductor industry to prevent unnecessary due diligence, risk management and reporting obligations for companies across the supply chain.
SEMI encourages the European Commission to place equal emphasis on the protect, promote and partner aspects of economic security in order to give European companies the highest possible level of access to global markets.
“The European Economic Security Strategy should foresee a structured dialogue with industry stakeholders based on a common understanding of supply chain risks and economic security,” said Laith Altimime, President of SEMI Europe. “It is vitally important for the European Commission to engage with the chip industry in Europe to enable meaningful conclusions and effective policy decisions.”
SEMI continues to engage with policymakers to encourage a legislative framework that enhances the EU’s economic security across industrial supply chains while preserving Europe’s technological competitive advantage.
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