European Commission President Ursula von der Leyen warned that Europe "has no time to waste" to boost its protection and competitiveness as MEPs prepare to give the green light to the new commission to start work.
Addressing parliamentarians in Strasbourg, Von der Leyen said her team was ready to get to work immediately to tackle the bloc's growing challenges - most urgently the war in Ukraine, which is "raging on Europe's borders".
Calling for a huge increase in defence spending, she insisted: "We have no time to lose. And we must be as ambitious as the threats are serious."
From Russia's invasion of Ukraine to war in the Middle East, the growing economic threat from China and Donald Trump's imminent return to the White House, the European Union has its hands full.
"Our freedom and sovereignty depend more than ever on our economic strength. Our security depends on our ability to compete, to innovate and to produce," Von der Leyen told MEPs.
The new team is due to formally start its mandate on Sunday after several of the main groups in parliament agreed to back it.
Last week, right-wing, centre-right and centre-left groups agreed to vote for a second term on the new 27-member committee as a whole, led by Von der Leyen.
Senior roles in the new committee are talking about priorities for the next five years.
Estonia's former prime minister Kaja Kalas will take the reins as the bloc's chief diplomat, while Lithuania's Andrius Kubilius has been given a new role, overseeing the EU's rearmament efforts.
Both are hawkish critics of Russia.
The EU should quickly increase defence spending to Russia's levels, Von der Leyen said, noting that there is "something wrong" when Moscow spends up to nine percent of GDP on defence against the EU's 1.9 percent.
Earlier, she argued that the bloc needs to invest 500 billion euros in defence over the next decade if it wants to keep up with Russia and China.
Similarly, trade policy - under the leadership of Slovakia's Maroš Šefčovič, a seasoned operative in Brussels - has shot up the agenda as the bloc will grapple with a tariff-loving US president who may insist the EU buy more US products or face higher tariffs .
France's Stéphane Ségournet will take charge of industrial strategy at a time when Europe's manufacturing sector is struggling amid competition from China, high energy costs and weak investment.
The former French foreign minister will have to work hand in hand with Spain's Theresa Ribera, the new head of competition and green transition, to reconcile economic growth with climate ambitions.
At the centre, however, will be Von der Leyen. | BGNES
