Brussels, BELGIUM – The Computer & Communications Industry Association (CCIA), along with six other leading international trade associations, expressed concerns with the EU proposal on foreign subsidies in a joint statement highlighting the potential unintended consequences of the EU Regulation.
The statement was signed by the American Chamber of Commerce to the EU, Australian Business in Europe, the Computer & Communications Industry Association, Europe India Chamber of Commerce, the European Australian Business Council, the Japan Business Council in Europe, and the Korea Business Association Europe.
The following can be attributed to CCIA Vice President & Head of Office, Christian Borggreen:
“Our joint statement shows that the EU’s main trading partners are concerned with how the proposal will impact their ability to invest and do business in the EU.”
“’We hope law makers will make this proposal workable for both European and international businesses.’’
“The EU proposal seeks to address valid concerns about distortive foreign investments. However, as currently drafted, we fear that it will inadvertently thwart international investment which Europe needs to kickstart its economic recovery and to bolster key strategic sectors.”