(Bloomberg) -- The European Union is working with the U.S. to plan two meetings in the first half of the year to discuss efforts to expand their cooperation on technology and trade, a senior EU official said, as they aim to compete better with China.
Valdis Dombrovskis, a European Commission vice president, said in an interview that the principals in the U.S.-EU Trade and Technology Council are aiming for two meetings this spring -- one virtual and another in-person session, likely this May in Europe.
“We had a meeting of all 10 EU co-chairs of the working groups to assess the state of play to provide guidance and it must be said that the work is advancing across all 10 working groups,” Dombrovskis said.
EU officials said that behind the scenes, work is ongoing to identify the most fruitful potential areas of cooperation in meetings with various companies and governments from member states.
The other co-chairs of the council are Margrethe Vestager, the EU’s competition chief, and three U.S. cabinet officials -- Secretary of State Antony Blinken, Commerce Secretary Gina Raimondo and U.S. Trade Representative Katherine Tai.
The council last met in September in Pittsburgh, following a flap over a U.S. submarine deal with the U.K. and Australia that angered France. It was set up in large part to counter China’s economic influence and technology ambitions, and to address gaps in global supply chains.
Some EU officials have been critical of the effort, with Thierry Breton, the bloc’s internal markets commissioner, telling a European Parliament committee in December that the council was “not particularly fruitful at this stage” when it comes to tech regulation.
While nothing has been decided yet, the EU is considering discussing with the U.S. how to develop a more conscious strategy to set global standards for emerging technologies, such as artificial intelligence and quantum computing, EU officials said. China, they note, is already trying to do that and the West needs to catch up. The EU is also exploring green technologies and procurement rules to identify areas for cooperation.
EU officials said that export controls and screening of foreign investments could be another productive areas for cooperation, but those are sensitive areas and would take longer to build trust.
©2022 Bloomberg L.P.
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