THE BUSINESS OF INTERNATIONAL TRADE
THE BUSINESS OF INTERNATIONAL TRADE
The new EU export control regulation was published 11 June 2021 in the Official Journal of the European Union. The EU now has new tools to address risks associated with trade in cybersurveillance and emerging technologies and promote strategic autonomy. The EU upgraded its legislation on the export controls applicable to sensitive dual-use goods and technologies such as cyber-surveillance tools on 10 May 2021 when the Council adopted a regulation modernising the EU system for the control of exports, brokering, technical assistance, transit and transfer of dual-use items. These are goods, software and technology that can be used for both civilian and military applications.
The new regulation strengthens controls on a wider range of emerging dual-use technologies, and the coordination between member states and the Commission in support of enforcement of controls throughout the EU. By introducing due diligence obligations for producers, the new rules also give companies an important role in addressing the risks to international security sometimes posed by dual-use items.
Finally, the dual-use regulation paves the way for better coordination between the EU and partner countries in enhancing international security through more convergent approaches to export controls at global level.
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