Brussels Economic Security Forum 2026: Europe urged to diversify and build resilience
Brussels, 5 June – The European Policy Centre’s second Brussels Economic Security Forum (#BESF2026) concluded today with a clear message: Europe must build economic resilience as global fragmentation deepens.
Over two days, leaders, policymakers and industry experts examined how to diversify supply chains, secure critical technologies and reduce vulnerabilities linked to trade shocks and strategic dependencies.
“Economic security is a shared responsibility, and industry stands on the front line; we must have its back. But industry must also act smartly: diversify rapidly and strategically and incorporate the cost of resilience into business models,” said European Commissioner for Trade and Economic Security Maroš Šefčovič. He warned that “the cost of inaction could be higher.”
Šefčovič said the best way to avoid weaponised interdependence is to diversify: “With critical supplies, you need at least three different suppliers. We must think more strategically about diversification.”
The Commissioner highlighted that the EU’s economic security strategy and industrial policy are already addressing diversification, particularly on critical resources.
The EU is not alone in facing these challenges. UK Secretary of State for Business and Trade Peter Kyle told the audience that his government had introduced numerous measures to strengthen the British economy. “In the name of resilience, we’ve become very interventionist. I describe my job as being a stabiliser of a ship at sea: we can’t take away the waves, but we can add stability in uncomfortable conditions.”
He added: “It’s a frustration of mine that we spend so much time mitigating challenges rather than creating opportunity.”
The EU is also responding financially to economic security challenges, according to European Investment Bank President Nadia Calviño. “Every euro invested by the European Investment Bank contributes to this goal.”
“Economic security is [also about] what we can build ourselves, and Europe’s hand is strong. The EU is a centre of excellence in quantum, advanced manufacturing, biotech, aerospace… frontier fields where tomorrow’s security and prosperity will be determined,” said Calviño.
Lithuanian Minister for Foreign Affairs Kęstutis Budrys reminded the audience that the economic challenges Europe faces are global, with states increasingly employing trade, finance and industrial tools for geopolitical ends. “Europe is particularly exposed, not only our open economy, but also our defence industrial plans.”
China was identified as a significant economic challenge for Europe because of its size and accusations of trade dumping. However, Michael Pettis, Professor at Peking University, argued that Chinese firms are not solely responsible for undermining European production. Rather, he said, “EU firms [are] not investing more in manufacturing because it [is] not profitable.”
“Even with more funding, expansion won’t follow. Competition works when it shifts resources to more efficient players, but Chinese subsidies push costs so low that firms can’t compete,” Pettis added.
Still, European University Institute Professor Mari Demertzis warned against a more confrontational economic policy. “There will come a day that we realize the zero-sum is not working out for anybody. That's where we're heading to.”
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