After introducing new powers to vet foreign investments in Europe, Brussels’ attention is turning to the vexed question of whether to block foreign companies from bidding for public contracts if their home markets are closed to EU business.
Ensuring equal access and reciprocity in public procurement is the latest front in the EU’s efforts to counter what it sees as unfair competition from Chinese state-backed companies, which European capitals led by Paris and Berlin, along with a growing number of corporate leaders, fear are eating their lunch.
Procurement for big public projects accounts for an estimated 16 per cent of EU gross domestic product, so is anything but niche. In 2014 the EU contracted high-value tenders worth €420bn.
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