Investment in research - 3% of GDP objective (Extract from the Presidency background note on the Competitiveness Council of 26 Nov)

November 22, 2002

Copenhagen, 21 Nov 2002

The Commission will present its communication entitled "More research for Europe: Towards 3% of GDP", and the Council will hold an exchange of views on the basis of a presidency note.

The communication is part of the economic reform process established by the European Council at Lisbon in March 2000. It reflects the agreement reached at Barcelona two years later where Member States agreed that investment in research and technological development in the EU must be increased with the aim of approaching 3% of gross domestic product by 2010.

The communication is aimed at launching a debate on the ways and means of reaching this aim, and identifies a number of areas where action needs to be taken or reinvigorated. It emphasises the need to make conditions more conducive to business investment and to raise the effectiveness of public financing in R&D so as to close the ever-growing investment gap in relation to the United States.

The Commission intends to engage with the other EU institutions, the Member States, regions and industry in order to identify actions to be undertaken to encourage more effective R&D investment in Europe. This exercise, together with further input from the Competitiveness Council next March will provide the required contribution to the 2003 Spring European Council.

http://www.eu2002.dk/news/news_read.asp? iInformationID=25094
Danish Presidency Website http://www.eu2002.dk/main/

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