Brussels: The European Council and the European Parliament negotiators have reached a provisional agreement on measures aimed at incentivising defence-related investments within the current EU budget. This move is part of the ReArm Europe plan, an initiative designed to enhance defence spending and strengthen the military capabilities of the European Union.
According to Emirates News Agency, the agreement marks a significant step forward by including a decision to associate Ukraine with the European Defence Fund. This decision highlights the EU's ongoing commitment to supporting Ukraine's security, resilience, and gradual integration into the European defence industrial base. Troels Lund Poulsen, Minister for Defence of Denmark, emphasized the importance of this agreement, stating that it represents a crucial milestone in implementing the ReArm Europe plan and increasing EU defence readiness by 2030. He underscored the need for maximising investments in defence and dual-use technologies in collaboration with Europe and Ukraine.
The provisional agreement aims to facilitate faster, more flexible, and coordinated investments in the European defence technological and industrial base (EDTIB). This will be achieved by amending five key EU regulations, including the Digital Europe Programme, the European Defence Fund, the Connecting Europe Facility, the Strategic Technologies for Europe Platform (STEP), and Horizon Europe. The agreement will require confirmation from both the European Council and the European Parliament before it can be formally adopted.