Concern has been raised by the European Commission about a fall in European investment into biotechnology, which has matched the declining confidence of EU consumers in GM food.
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Brussels’ first progress report on the action plan for European life sciences says that “urgent action” is needed to reverse this trend.
EU enterprise Commissioner Erkki Liikanen said: “Practically the entire European biotechnology industry is facing difficulties due to the collapse in investor confidence. Concerted action, involving public authorities as well as the private sector, is needed to improve the investment climate for biotechnology in Europe.”
The report warned that between 1998 and 2001, notifications for EU GMO field trials declined by 76%.
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By GlobalData
