MEPs support phasing out of Joint European Venture programme for SMEs
Members of the European Parliament's Committee on Industry, External Trade, Research and Energy (ITRE) have adopted a report calling for the phasing out of the Joint European Venture programme for small and medium sized enterprises (SMEs), which they branded a 'failure'. The programme was established in 1998 as part of the multi annual programme for SMEs, and was designed to stimulate the creation of transnational joint ventures between SMEs within the European Economic Area in order to help them internationalise their activities. However, the members of the ITRE committee adopted a report by German MEP Paul Rübig, which concluded that the programme had fallen short of its objectives. The report said of the programme: 'It is expensive, slow and complicated to administer, demand for it has been low and any substantial simplification aimed at improving both its attractiveness and its effectiveness would entail losing the entire unused committed budget of approximately 43 million euro.' MEPs therefore supported the Commission's plan to phase out the programme as soon as possible and return the unspent funds to the EU budget. The committee also called on the Commission to present a report to Parliament and the Council on the implementation of the multi annual programme for SMEs.