FERM 2024 | Message from Maria del Carmen Barrera Chamorro, representative of the Section for Economic and Monetary Union and Economic and Social Cohesion at the European Committee

Panel “INVESTMENTS”

Module VII – MESSAGES, XVIII Edition of the Moldova Regional Economic Forum, Vatra Dornei, 2024

SPEAKER – Maria del Carmen BARRERA CHAMORRO, Representative of the Section for Economic and Monetary Union and Economic and Social Cohesion at the European Committee

THEME: „Cohesion Policy, the Main European Investment Tool”

The Importance of Cohesion Policy in the European Union

At the opening of her message, Maria del Carmen Barrera Chamorro, representative of the Section for Economic and Monetary Union and Economic and Social Cohesion, expressed her gratitude for the invitation, highlighting the importance of this forum: „Thank you very much for the invitation to be here. It is a great pleasure. It is an experience for me. I hope that in the future we will strengthen the relationship between this important forum and the specific activities of the European Economic and Social Committee.” Barrera Chamorro continued by highlighting her role within the European Economic and Social Committee, mentioning her contributions to the European Union’s recovery and resilience policies.

Cohesion policy, an essential pillar of the EU

A central point of her speech was the European Union’s cohesion policy, described by Carmen Barrera Chamorro as „the main European investment tool, representing approximately one-third of the EU’s annual budget. This policy aims to reduce economic, social, and territorial disparities within the European Union, playing a crucial role in mitigating the effects of current crises and providing assistance to regions affected by conflicts, such as those hosting refugees from Ukraine.”

The necessity of involving social partners and civil society

To maximize the effectiveness of cohesion policy, she stressed the importance of involving social partners and civil society organizations: „It is essential to involve social partners and civil society organizations at all levels in member states, through appropriate partnership agreements.” Barrera Chamorro emphasized that such partnerships are vital for adapting policies and funds to local and regional realities, ensuring effective and relevant use of available resources.

Protecting SMEs and their sustainability

„In this regard, existing standard European instruments, such as the European Social Fund, the European Regional Development Fund (ERDF), the Cohesion Fund, and the Just Transition Mechanism, should be used in an innovative yet simple manner, so that SMEs can easily access financing and obtain favorable long-term credit conditions.”

Additionally, the European Economic and Social Committee emphasizes the importance of funding large companies to achieve convergence objectives, highlighting the crucial role of strategic technologies. Recently, the new STEP (Strategic Technologies Platform for Europe) instrument was proposed to support these technologies, thus strengthening competitiveness and innovation across the European Union.

Additional funds for border regions

In the context of EU enlargement, Barrera Chamorro emphasized the need for additional funds for border regions with candidate countries, as well as for regions of current member states affected by changes within the Union.

„To prepare candidate countries to fully implement cohesion policy tools in the future, pre-accession assistance policy should be better tailored to the strengths, challenges, and needs of the respective regions, as well as the border regions with European member states.”

Conclusions and perspectives

In conclusion, Barrera Chamorro announced the imminent adoption of a resolution by the European Economic and Social Committee titled „No one should be left behind for an inclusive and participatory cohesion policy in support of social, economic, and territorial cohesion.” This resolution underscores the crucial role of cohesion policy in maintaining Europe’s unity and promoting equitable and sustainable development for all regions.