EU to Implement New Economic Package with Export Controls

The European Union plans to propose a new economic package in December, which includes export controls to increase geopolitical influence. According to trade chief Maros Sefcovic, the EU is also accelerating free trade agreements globally, focusing on critical raw materials and sensitive technology for diversified support.

The European Union is set to unveil a fresh economic package in December, which will feature export controls as a key measure. This announcement was made by the EU's trade chief, Maros Sefcovic, during a recent briefing on Friday.

Sefcovic highlighted the strategic use of export controls to bolster the EU's geopolitical influence, signaling a more assertive trade policy by the bloc.

In addition, the EU intends to speed up free trade negotiations globally, aiming to secure vital agreements on critical raw materials and sensitive technologies, thereby ensuring diversified support for Europe.

(With inputs from agencies.)