Important projects of common European interest: Boosting EU strategic value chains

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4.8 • 13 Ratings

🗓️ 11 December 2020

⏱️ 7 minutes

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Summary

The marked political shift towards greater technological sovereignty and strategic autonomy within the EU has been given further impetus with the outbreak of the coronavirus pandemic, which disrupted global value chains and highlighted the case for a more self-sufficient EU model. Important projects of common European interest may be useful tools for creating complex new value chains that have the potential to ensure the EU's long-term competitiveness and economic growth.
https://www.europarl.europa.eu/thinktank/en/document.html?reference=EPRS_BRI(2020)659341
https://youtu.be/Hrz-79HM_M0

Source: © European Union - EP

Transcript

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0:00.0	Welcome to the European Parliamentary Research Service podcast on boosting strategic value chains in Europe.
0:10.0	The disruption of global value chains that followed the COVID-19 pandemic has given fresh impetus to the EU's quest for more strategic autonomy.
0:18.0	One of the ways to achieve this is by using state aid to finance important projects of European
0:23.6	interest.
0:24.6	Until now this possibility has been completely underutilized, so it may be time to make
0:29.6	greater use of it.
0:30.6	Stay with us.
0:35.6	State aid rules in the internal market are rather tight so that no government can unfairly subsidize
0:41.4	its companies distorting the level playing field on the single market.
0:45.5	But EU law provides for one little non-exception when it's used to finance important projects
0:50.9	of common European interests.
0:52.9	So what kind of projects qualify as such?
0:55.5	Well, originally projects were limited to the areas of research, development, innovation and
0:59.8	environmental protection. But in 2014, the scope was broadened to include projects in any economic
1:05.7	sector with the potential to create growth and jobs, foster competitiveness, sustainability and value creation
1:12.1	across the EU. To qualify as an important project of common European interest, projects also
1:18.1	need to involve more than one member state and ensure that its benefits are widely shared and do
1:23.4	not distort the level playing field in Europe. They also need to be co-financed by the beneficiaries
1:28.3	and demonstrate their innovative potential and high added value.
1:33.3	Such projects are often challenging to fund due to the technological or financial risks involved
1:38.3	and the challenges of international cooperation. So if the market alone would not take the risk,
1:43.3	why not allow European governments
	...

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