EU plans to introduce "biological economy" strategy

January 09, 2019

EU innovation commissioner Quinn said that the bio-economy industry covers a wide range of fields ranging from agriculture, forestry, fishery, to food, chemicals and biofuels. It plays a key role in promoting innovation and solving major social challenges such as bottlenecks in natural resources. The annual output value is as high as 2 With trillions of euros, EU companies must increase investment in this industry. Quinn said that when it comes to the formulation and development of bio-economic strategies, this strategy will focus on strengthening Europe's leading position in biotechnology.
The European Commission will start the consultation process for this strategy by the end of the year and submit relevant policy documents in the fall of 2011, which will be included in the discussion agenda of the EU Ministerial Council in the spring of 2012. In addition, on September 15, the European Union, together with Australia, New Zealand and Canada, initiated an international bio-economic forum to discuss strengthening cooperation.
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