![]() | ||||||||||||||||||||
|
||||||||||||||||||||
|
Defence & Aerospace Industry News:EU defence ministers increase military spending20 Nov 2007EU defence ministers have increased the European Defence Agency (EDA) annual budget by one third in a bid to improve the bloc's military performance. According to a deal reached on Monday (19 November), the EDA budget will see a significant jump from €22 million in 2007 to €32 million in 2008 - something that should also help fill the "existing gaps" in three areas: strategic transport, force protection and intelligence. In addition, EU ministers set a series of "collective", but "voluntary" benchmarks designed to boost technologies that are crucial for future military capabilities. One of the benchmarks foresees 20 percent of defence spending going to new equipment purchases, compared to the current 19.4 percent. The other suggests that two percent of the overall budget should be invested in defence research and technology - at the moment it is 1.2 percent. "Investing in the right technology is critical for the future of European defence and the Strategy is exactly in line with the absolute requirement for us to spend more, spend better and spend more together", EU foreign policy chief Javier Solana said after Monday's ministerial meeting. According to EDA chief executive Alexander Weis, "the decisions have put in place further building blocks for our common work of making Europe's armed forces and military budgets fit for the challenges of the 21st century which we must face together". But EU defence ministers failed to give more financial stability to the agency by setting a three-year-long budget - something pushed for by France. The UK vetoed the proposal - a move in line with the country's traditional scepticism of military institutional arrangements outside NATO. "We don't back a budget without seeing what we are paying for (..) We need to be convinced there is a reason", one British official said, according to Reuters. Source: R. Goldirova - EUobserver
To find out how your company can compete for procurement opportunities with European defence ministries and prime contractors, contact Jeffrey Strategic. |
|
||||||||||||||||||
|
|
|||||||||||||||||||
| © 2008 Jeffrey Strategic Limited. All rights reserved. Registered in England and Wales No. 06365575 | ||||||||||||||||||||
| www.jeffreystrategic.com | +44 (0)20 3291 2981 | info@jeffreystrategic.com | ||||||||||||||||||||