EU 2020 achieving 124 Billion euro in savings

Europe 2020 is the EU's growth strategy for the coming decade. In a changing world the EU focus and policies are for a smart, sustainable, inclusive growth orientated European Union. Individual Member State’s will adopt national targets in each of these areas.

A key part of the EU strategy is to redress current EU administrative burdens and produce savings of EUR 124 bn and is expected to exceed its target of cutting red tape by 25% by 2012.

The EU has mandated customs legislations, if adopted, would generate annual savings of EUR 38 billion for European companies out of a total estimated burden of EUR 124 billion – a reduction of 31%.

As the EU customs legislation addresses security and competitiveness all parties across the public and private sector will benefit from the 2020 EU savings forecasted as the EU customs and trade goes paper free.  A key beneficiary in trade community will be the Small to Medium Enterprises who provide the economic back bone to EU. Visit the EU economic reformation strategy site

Policies reducing administration Burdens:

• EU customs regulations
• Cross Industry Invoicing
• VAT Directive
• SEPA
• Authorised  Economic Operators