Because of conflicts in Ukraine and the Middle East, the European security architecture is now "more precarious" than in previous decades, Vandenkendelaere said.
“As a consequence, the EU and its member states are forced to reconsider the issue of significantly increasing military budgets and strengthening the defense industry,” the MEP said.
In his letter, he asked whether the European Commission could name initiatives that have been or will be taken to stimulate the flow of private investment into the defense industry.
The parliamentarian recalled that the EC has already committed to helping attract such funds by 2023.
Earlier, EU diplomacy chief Josep Borrell said that the EU had depleted its reserves and did not have a “magic wand” to provide Ukraine with more shells.
According to the newspaper El País, the European Union has accumulated a debt to member states amounting to €7.16 billion for the transfer of weapons to Kyiv.