Prime Minister Jüri Ratas: Investing in research is not a luxury but a necessity

  • Press releases
  • 12/10/2017 17:40

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European Research Excellence - Impact and Value for Society conference
Today the European Research Excellence - Impact and Value for Society conference was held at the Tallinn Creative Hub (Kultuurikatel) (photo: Jürgen Randma / Government Office of Estonia)

According to Prime Minister Jüri Ratas, investing in research and innovation is not merely a luxury but a necessary step in maintaining the competitiveness of the European Union.

“If the funding of research does not increase, the competitiveness of the European Union will decrease and we will lose in the competition for talents. Furthermore, many technology-based and research-intensive products will remain undeveloped. The topic should become a clear priority in Europe as well as in Member States,” stated Prime Minister Ratas during his opening speech at the European Research Excellence - Impact and Value for Society conference held at the Tallinn Creative Hub (Kultuurikatel) today.

Funding research is also a priority for Estonia. I am proud to say that the Estonian Government has decided to increase the 2018 state budget allocations for research and innovations by 11%. The aim is to reach the 3% of GDP spending target by 2020, of which 1% should be public sector and 2% private sector spending” added the Prime Minister.

“The goal of the Estonian Presidency of the Council of the European Union is to support the increase in investments in research and development as well as innovation and for this change to also be reflected in the next multi-annual financial framework of the European Union,” said Ratas.

The Prime Minister handed over the Tallinn Call for Action 2017 to the representatives of the European Commission and stakeholders. “The aim of the call is to ensure broad political commitment for increasing research and innovation funding. In addition, we should strive to better acknowledge and value the role of research in economic development and increasing competitiveness in our societies,” said Ratas.