Consultation on EU regulation against distortive foreign subsidies kicks off
Until 6 March, European stakeholders can have their say on how to implement the Foreign Subsidies Regulation, the instrument launched in recent months to prevent aid given by a third country to companies operating in the EU market from causing unfair competition for European companies.
The regulation, entered into force on 12 January 2023, aims to fill a regulatory gap that in recent years has undermined the resilience of the internal market, which is subject to strict rules concerning state aid to European companies but lacking of substantial defences in the case of aid from third countries to foreign companies operating in Europe.
The new measures will allow the EU to investigate unfair practices by certain third countries and prevent them, ensuring that Brussels can guarantee fair competition and equality conditions for all companies.
A few weeks after the entry into force of the Regulation, the Commission presented a draft Implementing Regulation clarifying the practical