Business Opportunities under the European Union Budgetary Framework 2014-2020

Francisco A. Laguna & Wojciech Kornacki 

Janusz Lewandowski, European Union (“EU”) Financial Programming and Budget Commissioner, forecast that the EU’s new 2014 – 2020 budget would result in 6 years of growth.  The goal of the Commission is to transform the EU into a “knowledge-intensive, low-carbon, and highly competitive economy” supported by flexible energy, transport and infrastructure networks.  The budgetary framework of € 959 billion presents ample opportunities for both EU and non-EU businesses.

The EU consists of 28 countries.  Its economy, measured by Gross Domestic Product (“GDP”), is currently bigger than that of the United States (“US”). The US economy is estimated at $15.4 trillion (2012), while the EU economy is estimated at around $17.3 trillion, after conversion, placing it as the world’s largest economy.