Europe should develop production capacity in order to increase economic security - Karins

RIGA - Europe should develop production capacity in order to increase economic security, said Latvian Prime Minister Krisjanis Karins (New Unity) after his meeting with Margrethe Vestager, the Executive Vice President of the European Commission for A Europe Fit for the Digital Age.

The prime minister said that Europe continues to support Ukraine in the war started by Russia. Assistance to Ukraine is being provided also on the level of Europe and the European Commission, supported the country in the economic, humanitarian and military sectors. 

Karins said that the assistance should be continued, and it is a common topic among representatives of the European Commission and other member states.

Karins underscored that it is important to review Europe's common economic and energy policy in order to make the EU economy in the future less vulnerable.

The prime minister said that supply chains should be differentiated, improving their security. It is also important to keep open the EU single market that is also one of the corner stones of Latvia's economy. While changes are introduced in Europe, equal opportunities should be ensured for all bloc's member states.

Vestager agreed that attention should be paid to increasing economic security so that there would be no risks in trading, allowing to reach new welfare levels, while there are also many areas in which there is no methodology, analysis and clarity on the European level on how to guarantee higher economic security.

In relation to Ukraine, she praised Latvia's support to Ukraine, adding that the EU continues providing assistance to Ukraine in military and humanitarian areas, allowing Ukrainian people to find refugee in Europe.

She said that there has been a proposal to increase sanctions against Russia and ensure that the current sanctions are being followed that would prevent Russia from receiving funding for its warfare.