EU4Business Projects Background
The EU4Business Week is organised by the European Union with its partner institutions implementing EU-funded projects within the framework of the EU4Business Initiative. A series of events is taking place from the 24th to the 28th of October 2016, highlighting the contribution of EU-funded projects supporting private sector development for the benefit of businesses in Armenia. Over the years, the European Union has supported large scale reforms and projects aimed at the development of a supportive environment for doing business in Armenia. With innovation, trade and SME development seen as key pillars of economic growth, the EU stands ready to help Armenia achieve its further development objectives.
Horizon 2020 is a major EU-funded initiative that couples research and innovation. Joining Horizon 2020 in 2016, Armenia has now full access to the EU’s biggest research and innovation programme with nearly €80 billion of funding, under the same conditions as their counterparts from the EU Member States and other countries. The programme's main national contact point for Armenia is National Academy of Sciences of Armenia; the programme also serves as a comprehensive platform for Armenia’s public and private sectors to work together in finding and delivering innovative solutions.
COSME is the EU programme for the Competitiveness of Enterprises and SMEs, running from 2014 to 2020, with a budget of €2.3 billion. Armenia joined COSME as of January 2016. COSME will support Armenian SMEs in the following areas:
• Supporting internationalisation and access to markets
• Creating an environment favourable to competitiveness
• Encouraging an entrepreneurial culture
Already benefiting from the EU’s Generalized System of Preferences since 2006-2008, under the GSP+ status Armenia has enhanced market access. GSP+ fosters multilateral trade among Armenia and the EU member states by granting duty reductions on exports to the EU on some 6,000 tariff lines (66% of the EU common customs tariff).
In addition to this the EU provides direct funding and technical support to SME development under the EU4Business framework. It also provides international networking mechanisms and consultancy to help SME’s in Armenia operate efficiently under the Small and Medium Enterprises Development in Armenia (SMEDA). This initiative enables improved policy, framework and diversified access to finance for innovative start-ups and small businesses. The official launch ceremony of the EU-GIZ Support for SMEDA project will take place on 28 October, 2016.
For additional information on EU4Business week please
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