EU’s €200 Mn Investment Plan To Boost Global Competitiveness For Agri-food Products

The European Commission has decided to allocate €200.9 million in 2020 to fund promotion activities for European based agri-food products at domestic as well as Overseas Market.

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EU’s €200 Mn Investment Plan To Boost Global Competitiveness For Agri-Food Products

The European Commission has decided to allocate €200.9 million in 2020 to fund promotion activities for EU agri-food products at home and abroad.

In 2020, over half of the budget (€118 million) will go towards campaigns pursuing markets outside the EU with high-growth potential, such as Canada, China, Japan, Korea, Mexico and the United States, the EU Commission said in a statement.

Eligible Sectors include dairy and cheese, table olives and olive oil and wines.

According to Commission, the funds are expected to enhance the competitiveness and consumption of EU agri-food products, raise their profile and increase their market share in these targeted countries.

For 2020, €100 million is allocated to simple programmes, while €91.4 million will go towards multi-programmes. An additional €9.5 million is set aside for the Commission’s own initiatives, the commission said.