New EU Procurement Instrument Now Law.

Procurement / By / September 27, 2022 / 2 minutes of reading

New EU Procurement Instrument Now Law.

September 27, 2022
Procurement

About a year ago, we wrote an article on the new procurement instrument approved by the European Union. In recent weeks this long awaited change has become law.

This International Procurement Instrument (IPI) outlines new regulations limiting non-EU companies’ access to the open EU public procurement market if their governments do not offer similar access to public tenders to EU companies seeking business.

The objective of these changes is to encourage and reward reciprocity in trade relations, and mitigate discrimination against EU companies in third countries.

Of the 575 votes across the EU Parliament, only 7 were against and 14 abstained the vote. Parliament has been working on the file since the Commission’s original proposal in 2012, then modified in 2016. Member states only reached an agreement on the topic in June 2021

“The European Parliament has ensured that the International Procurement Instrument becomes an effective and efficient tool that improves reciprocity in procurement markets. IPI is a door opener for our European companies in third countries, as it removes unfair barriers they face and promotes fair competition. The days of an uneven playing field have finally come to an end,” said Daniel Caspary (EPP, DE), reporter in charge of the IPI proposal.

If you’d like to talk to us about our global government procurement data, our our data API, don’t hesitate to get in touch.

Because you read this article, you might like OECD Promotes Gender Equity Though Procurement.

Image credit Guillaume Périgois

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