It is essential to ensure a #LevelPlayingField, both within our 🇪🇺 Single Market and vis-à-vis 3rd countries.
The entry into force today of the Foreign Subsidies Regulation (#FSR) will allow better control of foreign financial interventions.
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https://ec.europa.eu/commission/presscorner/detail/en/ip_23_129
🐦🔗: https://n.respublicae.eu/ThierryBreton/status/1613498348249522179
EU #PublicProcurement markets account for about 1️⃣4️⃣% of our GDP and are an essential tool to steer our market towards #innovative and #green solutions.
The #FSR will prohibit the award of public contracts to a company that has unduly profited from foreign subsidies.
🐦🔗: https://n.respublicae.eu/ThierryBreton/status/1613498757047537664
In short, the Foreign Subsidies Regulation is a significant milestone to:
✔️Promote #equal treatment & fair competition in the Single Market
✔️Prohibit the award of public contracts to a company that has unduly profited from foreign subsidies
✔️Consolidate our #industry
🐦🔗: https://n.respublicae.eu/ThierryBreton/status/1613499461996630016
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It is not acceptable that foreign subsidies distort the #LevelPlayingField to the detriment of the competitive firms that play by the rules.
The #FSR will allow us to #investigate financial contributions granted by non-EU governments to companies active in the EU.
🐦🔗: https://n.respublicae.eu/ThierryBreton/status/1613499050954825728