Norway denies Russia’s remarks of mounting tensions in Euro-Arctic region

The signing of the Norway-US revised Supplementary Defence Cooperation Agreement (SDCA) on 16 April has sparked harsh criticism from Russia’s foreign ministry, accusing Oslo of “aggravating tensions in the Euro-Arctic region, and destroying Russian-Norwegian relations”. R Oslo denies claims of…

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Briefing – European Defence Fund: Multiannual financial framework 2021-2027 – 02-07-2021

In June 2018, the European Commission presented a legislative proposal on a European Defence Fund, including a budget allocation of €11.5 billion in constant 2018 prices for the 2021-2027 period. The proposal aimed to streamline and simplify the set-up in place at the time by integrating the Preparatory Action on Defence Research (research window) and the European Defence Industrial Development Programme (as one part of the capability window) into a single Fund. The main aims of the Fund would be to foster the competitiveness and innovativeness of European defence and to contribute to the EU’s strategic autonomy. In this regard, the Fund would inter alia support collaborative industrial projects; co finance the costs of prototype development; encourage the participation of small and medium-sized enterprises; and promote projects in the framework of permanent structured cooperation. Synergies were expected with other EU initiatives in the field of cybersecurity, maritime transport, border management, Horizon Europe, the space programme and the European Peace Facility. In April 2019, after several trilogue meetings, Parliament and Council reached a partial agreement on the Fund, covering the content, but not, among other things, budgetary issues. Parliament adopted its position at first reading in April 2019. A provisional political agreement on the outstanding issues was reached in December 2020. The Council adopted its first-reading position in March 2021 and the Parliament adopted the text at second reading on 29 April. The final act was published in the Official Journal on 12 May.

Source : © European Union, 2021 – EP

In-Depth Analysis – The EU-Turkey Customs Union and trade relations: what options for the future? – 07-07-2021

This in-depth analysis summarizes the main effects of the Customs Union (CU) on EU-Turkey trade and the economic situation in Turkey. Whereas the CU offers Turkey several economic benefits, it also implies some downsides, in particular asymmetric tariffs in relation to third countries. Against the background of the dynamic development of EU-Turkey relations, the authors assess the impact of four different options for developing EU-Turkey economic and trade relations:
(i) Continuation of the current Customs Union framework as it stands,
(ii) Modernization and upgrading of the Customs Union,
(iii) A transformation of the bilateral trade relations into a deep and comprehensive free trade agreement (DCFTA),
(iv) Suspension of the Customs Union (in which case WTO rules would apply).
The in-depth-analysis describes the options, the challenges the EU-Turkey Customs Union faces and seeks solutions for these issues.

Source : © European Union, 2021 – EP

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