European Parliament approves new EU rules against foreign subsidies that distort the internal market – legal loophole is closed
Brussels (OTS) – “Europe’s internal market is open to fair international trade and investment from non-EU countries. Anyone who wants to do business in the internal market must comply with EU competition rules, just like domestic companies. ensuring this with the new EU rules against foreign subsidies that distort competition in the internal market”, says Angelika Winzig, head of the ÖVP delegation to the European Parliament, in today’s plenary vote on the corresponding new EU regulation.
“If foreign companies want to take control of European companies or participate in public tenders in Europe, the European Commission must ensure that they operate under similar conditions to European companies, which are subject to strict state aid rules. in the law, which has been around for a long time,” says Winzig. “Our message is clear: anyone who follows our rules is welcome in the single market. Anyone who plays unfairly should stay out.”
Under the new EU rules, mergers or investments of companies must be reported to the Commission in the future if they involve at least €50 million in foreign subsidies for companies with annual sales of €500 million or more and non-owned companies. to the EU to take control of EU companies they want. The same applies to participation in public tenders in the EU, if more than €250 million in foreign subsidies run. Mergers, foreign investments and tenders may be prohibited or allowed only under certain conditions – just like the EU’s internal competition rules for European companies. Fines may be imposed if mergers or reportable deals are not reported. After today’s vote in plenary, member states still need to formally agree before the new EU rules against foreign subsidies can take effect. (Final)
Questions and contact:
Dr Angelika Tiny MEP, Tel.: +32-2-28-45763,
[email protected]
Helena Ringer, EPP Press Service, tel: +32-2-28-31184,
[email protected]