Tsvetelina Penkova discusses EU-US competition at Georgetown University

MEP Tsvetelina Penkova delivered a lecture at Georgetown University in Washington, addressing the growing global competition facing the European Union and the United States. She emphasized that while competition between the two powers is inevitable, their ability to shape future development depends on three pillars: energy, innovation, and competitiveness.

Penkova noted that true energy security requires more than just replacing external suppliers; it necessitates modern infrastructure and domestic production capacity. She highlighted her work on the EU Electricity Grid Regulation to address these needs, citing Bulgaria as an example where insufficient grid connectivity leads to energy price disparities that hinder industrial competitiveness within the single market.

Regarding innovation, Penkova observed that while Europe excels at generating knowledge through its universities, it struggles to transform that knowledge into globally successful companies. She pointed to the EU Startup Strategy and the European Innovation Act as tools to bridge this gap. Finally, she suggested that the EU and US have significant potential for strategic partnerships in sectors such as artificial intelligence, cybersecurity, and nuclear energy.