This Week in Finance — Brussels (#29, 2026)
Commission proposes new Public Procurement Regulation; Innovation Act and regulatory sandboxes presented; EU-India trade deal submitted to Council.
September 07, 2026 to September 13, 2026
Commission proposes new Public Procurement Regulation; Innovation Act and regulatory sandboxes presented; EU-India trade deal submitted to Council.
📋 In This Week's Newsletter
• 📅 This Week's Calendar in Brussels
• 🇪🇺 European Commission
• 🤝 EU Council
This Week's Calendar in Brussels
- Committee on the Internal Market and Consumer Protection (IMCO): On September 14, the European Parliament's Committee on the Internal Market and Consumer Protection (IMCO) is scheduled to meet. Agenda includes: A human-centred approach to AI governance• Exchange of views with Professor Paolo Benanti on the Encyclical Letter Magnifica Humanitas of His Holiness Pope Leo XIV on Safeguarding the human person in the time of AI; Chair’s announcements; Date of next meetings.
- Informal meeting of economic and financial affairs ministers: On September 18, the EU Council's Informal meeting of economic and financial affairs ministers configuration is scheduled to hold an informal meeting ministerial meeting in Brussels.
- Eurogroup: On September 18, the EU Council's Eurogroup configuration is scheduled to hold an eurogroup ministerial meeting in Brussels.
European Commission
Commission proposes new Public Procurement Regulation to modernise EU procurement framework
On 8 September 2026, the Commission adopted a proposal for a new Regulation to modernise and simplify the EU's public procurement framework, consolidating three directives and sectoral provisions into a single, directly applicable instrument. The initiative targets a reduction in administrative burdens, aiming at €650 million in annual savings and easing cross-border participation, especially for SMEs. The Regulation introduces a streamlined set of procedures, a unified digital marketplace for procurement across all Member States, and extends flexibility for negotiations during procurement processes. Quality criteria will account for at least 30% of contract awards, rising to 50% for labour-intensive contracts, under a Best Price-Quality Ratio standard. The proposal also integrates new mechanisms for security, resilience, and a horizontal European preference framework in line with international obligations. The Regulation will now be negotiated by the European Parliament and the Council before adoption and entry into force.
Commission presents landmark EU-India Free Trade Agreement to Council for signature
On 10 September 2026, the European Commission submitted proposals to the Council for the signature and conclusion of the Free Trade Agreement between the EU and India. This agreement, described as the largest ever concluded by either party, aims to eliminate or reduce tariffs on 96% of EU goods exports to India and is expected to save European exporters approximately €4 billion annually. The FTA covers goods and services worth over €180 billion in bilateral trade, affecting close to 800,000 EU jobs. Commissioner Maroš Šefčovič indicated that the proposals follow a fast-track procedure to accelerate implementation, given the current geopolitical context. Following Council approval, the agreement will require European Parliament consent before entering into force. India is conducting its own ratification in parallel.
Commission proposes new European Innovation Act and Council Recommendation on regulatory sandboxes
On 8 September 2026, the Commission tabled the European Innovation Act, a central piece of the EU Startup and Scaleup Strategy and the Competitiveness Compass. The Act establishes a framework for valuing intellectual property, creates a digital marketplace for IP transactions, and sets common procedures for cross-border R&D procurement. The measures are expected to unlock €10.2 billion annually in IP-backed finance and deliver €1 billion in annual savings for public buyers. In parallel, a draft Council Recommendation proposes a common EU reference framework for regulatory sandboxes, aiming for more consistent experimentation environments for innovative products and services across Member States. The measures are intended to support the commercialisation and scaling of European innovations.
EU Council
Upcoming ECOFIN and Eurogroup meetings set for 18 September
Economic and Financial Affairs Council (ECOFIN) and Eurogroup will hold informal meetings on 18 September 2026.
www.consilium.europa.eu | www.consilium.europa.eu
