Brussels, 22/05/2006 (Agence Europe) - From 1 July, new modalities for the acquisition of weapons and other defence equipment will apply to twenty two Member States of the European Union. From this date onwards, the market will function on the basis of a code of conduct drawn up by the European Defence Agency (EDA) and approved by Ministers of Defence in November 2005. This code aims to enhance competition and market transparency and is accompanied by a code of best practices on relations with sub-contractors. Hungary and Spain were the only two countries among the Member States taking part in the Agency (all Member States apart from Denmark) to have exercised their option by the 19 May deadline, not to join the Code of Conduct regime. (Spain made this announcement when the code was first approved). According to an expert, this non-participation is not expected to significantly affect how the new European defence equipment market works, insofar as the three countries put together only account for less than 10% of annual acquisitions.
EDA Chief Executive Nick Witney declared that “We are delighted that the overwhelming majority of Member States have confirmed that they will be subscribing to the Code of Conduct regime from the start”. Mr Witney added, “This regime will create new opportunities for companies across Europe, strengthen our defence technological and industrial base and offer better value for money to the armed forces and to taxpayers”. (Source: our publication Atlantic News).