EU Insight, 5 April 2024

Brussels, 5 April 2024

EU AND US STRENGTHEN THEIR TRANSATLANTIC COOPERATION

With a challenging geopolitical landscape as a backdrop, and ahead of key respective elections, the EU and the US held their sixth Trade and Technology Council meeting. Concretely the meeting serves as a platform for both sides to coordinate on a range of key priorities including trade, technology, and innovation, and essentially uphold their transatlantic relationship. Both parties reiterated their efforts to foster emerging technologies, including artificial intelligence (AI), quantum technologies, and 6G wireless communication. Additionally, the EU and US pledged to increase cooperation to secure clean energy supply chains and reduce dependencies on unfriendly nations. A Mineral Security Partnership Forum, aiming to establish and extend cooperation with critical mineral-producing countries, was launched.

BULGARIA AND ROMANIA (PARTIALLY) JOIN SCHENGEN AREA

On March 31st, Bulgaria and Romania officially joined the Schengen Area, expanding the world’s largest area of free movement. A hallmark of European Integration, the Schengen Agreement allows for the free movement of citizens across 29 countries extending beyond the EU. Bulgaria and Romania’s accession is limited to the removal of internal border controls for air and maritime travel, due to fears of uncontrolled internal migration. EU countries decided against lifting also internal land border controls in January, despite a recommendation from the Commission to do so. Having made a significant first step, the fate of Bulgaria and Romania’s full accession thus still lies in the Council’s hands.

NEW EU FACILITY TO SUPPORT WESTERN BALKANS’ ECONOMY

The Council and the European Parliament agreed on the framework of the Reform and Growth Facility for the Western Balkans, thus advancing the EU’s efforts to integrate non-EU Western Balkan Nations. The Facility stems from the Commission’s Western Balkan Growth Plan, which aims to offer the region some of the economic benefits of EU membership ahead of their potential accession into the Union. Thus, with a budget earmarked at €2 billion in grants and €4 billion in loans for the 2024-2027 period, the facility aims to boost economic growth, accelerate socio-economic convergence vis a vis EU Member States, and support the region in undertaking EU-related accession reforms.

DISCUSSIONS ON EU’S FUTURE PRIORITIES

In preparations for the upcoming institutional changes resulting from the EU Elections in June, the President of the European Council, Charles Michel, invited EU leaders to continue discussions on the Strategic Agenda. Said discussion, which began last summer, is meant to feed into the June European Council, where EU heads of state will define the Union’s policy agenda and priorities for the coming legislative cycle. The upcoming meetings, which will take place in Vilnius, Bucharest, Warsaw, and Vienna, will seek to flesh out said priorities. In his invitation letter, the Council President underscores the importance of engagement and contributions from all stakeholders in navigating today’s challenging geopolitical landscape.

COUNCIL ADOPTS NEW RULES TO PROTECT JOURNALISTS AND MEDIA PROVIDERS

Aiming to address rising threats to the freedom of media in the EU, the Council officially adopted the European Media Freedom Act. The initiative aims to ensure media freedom, pluralism, as well as editorial independence across the Union. The law introduces safeguards to protect editorial decisions in both public and private media from potential political interference. Additionally, the initiative aims to protect individual journalists and their sources to guarantee free and pluralistic reporting and thus accordingly defines Member States’ responsibilities. Lastly, the new rules establish a European board for media services to promote the consistent application of the law and provide guidance to EU countries and the Commission.

COMING UP NEXT WEEK

• 7 – 9 April: Informal meeting of Agriculture Ministers. On the agenda: Belgian innovations and strategic autonomy in proteins.
• 10 April: College of Commissioners. On the agenda: the Future of the Single Market, and clean transition dialogues on stocktaking.
• 10 – 11 April: European Parliament Plenary Session in Brussels. On the Agenda: Head Office Tax system for SMEs, Pharmaceutical package, Migration and Asylum package
• 11 April: Governing Council of the European Central Bank. On the agenda: monetary policy meeting in Frankfurt.
• 11 April: Eurogroup. On the agenda: Digital euro, euro area competitiveness, exchange rate and inflation developments
• 11-12 April: Informal meeting of Telecommunications Ministers. On the agenda: user responsibility, economic security, and tackling Europe’s digital infrastructure needs.
• 12 April: Economic and Financial Affairs Council. On the agenda: Recovery and Resilience Facility implementation, Ukraine/Russia, and G20.

Karl Isaksson, Managing Partner Brussels, Kreab

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Kreab • Tel: +32 2 737 6900 • karl.isaksson@kreab.com • www.kreab.com/brussels • X: @KreabEU  •  LinkedIn: Kreab Worldwide