Luncheon-Debate with Jyrki Katainen

On March 7, the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized a luncheon-debate hosting Jyrki Katainen, Vice-President of the European Commission for Jobs, Growth, Investment and Competitiveness about “The future of Europe”. The event had the participation of CEOs of international companies, members of the Chamber and representatives of Spanish and European public bodies.

The presentation was given by Pablo López Álvarez, Vice-President of the Chamber, who reviewed the professional career of Jyrki Katainen and expressed the satisfaction that it is for the Chamber to organize this type of luncheon with guests of recognized prestige such as the Commissioner.

Hereafter Katainen took the floor, from the beginning he transmitted a motivational and of change message with his speech.

The Vice President proposed three main areas to expose the future situation of Europe.

The first one refers to a more integrated European Union: member countries, businesses and European citizens will make a more united Europe in a few years. Regulatory measures, many of which have already been or are being implemented, will give way to a Europe with new markets that will create new business opportunities such as in the plastics industry and its future transformation.

As a second area, he referred to the challenges coming from outside the European Union, where he highlighted three key powers: the United States and its conception of the market that is far from the open market vision of the EU; China, and the problems linked to the non-opening of its market to European investment, and finally, Russia. In line with the external relations of the EU, Katainen invited attendees to reflect on whether we are strong enough to act in defense of the EU.

In the third and final field concerning the future of Europe, the internal challenges faced by the EU itself and the crises associated with the fundamental values ​​of the European project were highlighted.

Jyrki Katainen ended his speech by referring to the role played by Spain in the EU, considering it a good ally as a European partner. The Vice President expressed his wish that Spain take a step forward in fundamental aspects such as the national market integration, the single internal market or development. He highlighted the history of the country in terms of the struggle for its internal security, and the prominent role that Spain could have in leading the debate on the defense of the EU.

To conclude, Katainen stressed the common goal that must be worked towards the future: to achieve a more competitive and integrated Europe.

After the presentation, a round of questions began where participants could raise their different concerns about the future of Europe. During the debate, topics such as the single internal market, circular economy, Artificial Intelligence, defense and security of the EU were discussed.

From the Chamber we want to show our gratitude to Bodegas Abadal, whose wines could be tasted by all attendees, and to participants for this successful luncheon-debate.

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Luncheon-debate with Emma Navarro, Vice President of the European Investment Bank

On 17 December, the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized in Luxembourg a luncheon-debate with Emma Navarro, Vice-President of the European Investment Bank (EIB), under the title of ‘’The role of the EIB facing European challenges’’. The event included the participation of different Spanish company executives and various representatives of public bodies, both Spanish and European. It was the President of the Chamber, Juan Rodríguez Villa-Matons, who introduced Emma Navarro reviewing her relevant professional career and expressing his acknowledgment for her collaboration with the Chamber in the participation of this event.

EIB Vice-President began with a brief presentation of the institution, emphasizing its historical occupation on financing infrastructures and encouraging innovation and competitiveness in Europe, introducing new channels that the Bank is already attending in today’s context. Emma Navarro appeared optimistic, describing a favorable cyclical and conjunctural situation, to then emphasize the political, economic and structural challenges that Europe faces.

Among the challenges, Emma Navarro distinguished the political from the structural ones. Regarding the political scene, she highlighted the growing protectionist tendency in Europe and the Brexit, involving this one a need for Bank funds capital replacement. She also brought to light the escalation of populism as a response to multilateral processes. In relation to structural challenges, the speaker remarked the aging of population, the public debt, the increasingly low productivity and the climate change.

The luncheon-debate continued with the analysis of the structural challenges. Encouraging public debt reduction is an inexorable priority for the EIB regarding both the UE restraints as an international organization such as the lack of scope for fiscal action but also the exchange rate policies implementation. Low productivity is another of the main challenges, although this represents a key opportunity for the EIB to foster investment in infrastructure, digitalization and competitiveness. The convenience of attending to an increase in productivity is double if we consider that in this year only a 75% of the budget prior to the financial crisis has been allocated to this item. The fight against climate change is the last challenge analyzed by Emma Navarro. Currently, the EIB allocates more than 25% of their investments to projects fighting the effect of climate change and has the forecast of reaching 100,000 million dollars in between 2016 and 2020. So much so that the EIB is claimed as the main issuer of green bonds, representing 5% of the total.

The intervention of Emma Navarro ended with a special mention of SMEs, for which the EIB acts as a fundamental actor in terms of financing in addition to other major projects such as Madrid Underground. Following the presentation, there was a round of questions among the attendees.

Héctor Esteban Moreno, CEO of Bankinter Luxembourg, closed the event by highlighting the bank’s special relationship within the industrial sector since its foundation, in 1965. Bankinter is claimed to be the sixth Spanish bank in terms of assets, and the first in profitability. He confesses to be at ease with the guidelines presented by Emma Navarro, not only because about a 30% of their income comes from SMEs but also because Bankinter shares multiple collaboration agreements with the EIB in terms of finance investment and innovation.

The Chamber thanks Bankinter Luxembourg for its collaboration in the organization of the event, and the Bodega Salferso Wine for sponsorship of the wines.

Luncheon-debate with Violeta Bulc, European Commissioner for Mobility and Transport

On November 19, the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized a luncheon-debate hosting Violeta Bulc, European Commissioner for Mobility and Transport, the theme was “Challenges of transport: decarbonization and digitalization”. The event, sponsored by the technology consultancy firm Indra, had the participation of executives of companies in the sector, members of the Chamber and representatives of public bodies, both Spanish and European.

The presentation was given by Juan Rodríguez Villa-Matons, President of the Chamber, who reviewed the professional career of Violeta Bulc and showed the satisfaction that it is for the Chamber to organize this type of luncheon with guests of the category of the Commissioner in collaboration of Spanish well-known companies, through which the Chamber is able to keep on growing.

David Luengo, director of the Indra office in Brussels, talked about the importance of sustainability and competitiveness in the field of transport, referring to the importance of achieving a solid position as a country in the high technology sector, (in a context of European programs where Spain has obtained excellent results). In the same way, he highlighted the importance of the Spanish contribution to Horizon 2020 as well as the importance of betting and encouraging technological innovation and consolidating European industry.

For her part, Commissioner Violeta Bulc conveyed a motivating and changing message with her speech. Bulc started by explaining the current evolution in the transport sector and the need to exchange not only good practices but opinions and ideas to promote awareness and collaboration to direct actions towards a common goal.

The Commissioner of Transport emphasized the three main goals through which transformation in the sector will be achieved. The first of these, efficiency, highlighted the responsibility involved and the intention to ensure the continuity of innovation. The second, connectivity, the Commissioner stressed the importance of this to achieve the goal successfully, accompanied with a high degree of commitment, not only internally but outside the EU, maintaining global connectivity. Lastly, externalities, where it was claimed the importance of the socially responsible contribution against negative externalities.

The rest of the exposition revolved around two axes; on the one hand, decarbonisation and on the other the digitalization of transport. With regard to decarbonisation, it was mentioned low emission vehicles to achieve clean mobility, highlighting in turn the relevance of alternatives to current fuels and infrastructures.

Regarding the digitalization of transport, Bulc stressed the need to be open to an innovative ecosystem where we all cooperate to carry out digitalisation. He stressed that the two concepts go hand in hand and invited attendees to think digital and clean.

After the presentation, a round of questions took place in which the participants could raise their different concerns in the transport sector. Questions of various types were carried out, including mentions to the Mediterranean corridor, concerns related to Brexit or new communication technologies.

On the other hand, from the Chamber we want to show our gratitude to Bodegas Solar de Urbezo, whose wines could be tasted by all attendees and their distributor in Belgium and partner of the Chamber, La Buena Vida.

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Luncheon-Debate with Diego Canga Fano, Head of Cabinet of the President of the European Parliament

Last 10th of July, the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized a luncheon- debate hosting Diego Canga Fano, Head of the Cabinet of the President of the European Parliament. The theme was “The European Parliament, representative of the EU citizens”. Company directors, members of the Chamber and representative of public institutions were the main participants. The luncheon- debate was sponsored by the consulting and technology company Indra.

Ignacio Mataix, executive Director of Indra, was in charge of the presentation. He expressed the excellent labour developed by Diego Canga at the Parliament as well as the compromise of the company with the European project. Juan Rodríguez Villa- Matons, President of the Chamber, showed his satisfaction about being able to count on a guest such as Diego Canga as well as with the collaboration of well-known companies, through which the Chamber is able to keep on growing.

The intervention of Diego Canga was marked by a dynamic and invitational tone. His speech was focused mainly in the collaboration and communication between the European Institutions and the confidence placed by the European citizens in the Parliament, which has considerably increased in the recent times.

The speaker made emphasis on the most relevant changes made during the mandate of President Tajani, begun in 2017 and which are mainly focused in giving a greater role to the citizen’s voice.

Canga also pointed out daily and inner politics of the European Parliament, which even if they are less known by the citizens, play an important role.

Furthermore, Canga focused part of his speech in the challenges that the current team will face these coming years: financial framework, the Brexit and the legislation pending, which will be pushed next semester.

Hearing and learning from Diego Canga, with more than 27 years of experience within the European Institutions, certainly added a very interesting vision to the attendees that enjoyed a distended environment. Sharing the personal thoughts of Canga helps to better understand the European project and the demanding challenges that the European Institutions still have to face.

As the themes were recent, the participants took actively part to the debate and the Q&A round.

The Chamber will also like to thank Félix Solís Avantis, whose wines could be tasted by the all the attendees.

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Luncheon-Debate with Antonio Carrascosa, Director of Resolution Planning and Decisions of the Single Resolution Board (SRB)

On May 28, the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized a luncheon-debate at Cercle Münster in Luxembourg with Antonio Carrascosa, Director of Resolution Planning and Decisions of the Single Resolution Board (SRB), under the topic “The role of the SRB within the Banking Union”.

The event was attended by the Ambassador of Spain in Luxembourg and a score of representatives of financial institutions, European institutions and business executives.José Luis Rodríguez Álvarez, Vice President of the Chamber, gave a few words of welcome and introduced the speaker, Antonio Carrascosa, highlighting his recognized professional career.

Then, Carrascosa began his speech by presenting the SRB and explaining its main functions, such as avoiding the contagion effect in the case of a bank with problems, determining if it should be liquidated or trying to resolve it and, in this case, avoid that the taxpayer ends up carrying the cost of said resolution. The main tools to solve a banking entity consist of: “BAIL-IN“, cut the value of liabilities, and the sale of less profitable business lines to improve the general solvency and liquidity position.

The rest of the intervention was about reflecting on the lessons he learned in cases in which the SRB had to decide a resolution.

He stressed as a first lesson that the resolution model collides with the so-called “medium” banking because its financing model is not compatible with the current regulatory reality. Under this new paradigm, banks that have only capital and deposits in their liabilities are difficult to solve. The only alternatives are to merge or disappear.

Managing liquidity before resolution is also important. It may be the case of entities without solvency problems, but due to a trust problem, a crisis is triggered, and a resolution must be made. Carrascosa highlighted the purchase by Banco Santander of Banco Popular, injecting double the amount that the SRB could have provided. The absence of a buyer may pose a serious problem of credibility and liquidity.

Some of the alternatives considered as SRB’s liquidity backstop, which is access to financing of last resort, are the European Stability Mechanism and the European Central Bank, with which the ideal would be to have an agreement to deal with the problem of liquidity after a resolution.

There are two currents in Europe when it comes to managing bank risk. On one hand, there are the countries that propose the risk mutualization through a line of credit guaranteed by a European public institution. On the other hand, there are countries that prefer the reduction of risk exposure over mutualization. They are not two opposite currents, but complementary. The difference of both approaches is more about which one should be applied first.

The SRB exists as a European resolution institution and it is related to the European Central Bank and the European Commission. Everything that favors, such cooperation between institutions to make decisions quickly, is fundamental. Its representatives are from the Council and the European Parliament. This regulatory framework reassures the citizen. Carrascosa, highlighted as fundamental the role of national authorities, executors of the decisions taken, with the capacity and experience to face a resolution.

It has been shown that the information provided by banks is very important. To be able to take decisions, they try to move forward so that in an online way banks provide all the necessary information to assess an entity or do a bail-in if necessary.

As a final point, Antonio defended the transparency of the Institutions towards citizens, although, clarifying that before a resolution, confidentiality must be absolute.

After the intervention, the participants had the opportunity to ask their questions to Antonio Carrascosa. Once the event was over, the president of the Chamber, Juan Rodríguez Villa-Matons, awarded the Director in gratitude for his participation in the Luncheon-Debate

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Luncheon-debate with Nicolás Pascual de la Parte, Ambassador Representative of Spain to the NATO

Last 19th of April, the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized a luncheon-debate hosting Nicolás Pascual de la Parte, the Ambassador Representative of Spain to the NATO. The theme was “Transatlantic security: new threats and opportunities”. During the event, company directors, members of the Chamber and representatives of public institutions were the principal participants. The luncheon-debate was sponsored by the consulting and technology company Indra.

David Luengo, the director of Indra office in Brussels, was in charge of the presentation. He expressed the concerns of the company to face the new global challenges and thanked the speaker for his effective work in his different responsibilities through the years in Brussels.  Juan Rodríguez Villa-Matons, the President of the Chamber, expressed his satisfaction about being able to count on an experienced diplomat as Nicolás Pascual de la Parte. As for the speaker, he reminded having taken part in previous events organized by the Chamber and reminded that he was willing to take part to future events.

Nowadays, the socio-political situation of the main international actors has caused incertitude because of the struggle with the fixed rules established during the 20th century between the different States.

Fortunately, the presentation of Pascual de la Parte was about the actual unpredictability and the actual new threats at a global level: on one hand, there is the revisionist change of Russia, and on the other hand, the radicalization of the Islamic jihadism.

The Ambassador focused mostly on these two aspects.

The relations of trust between Russia and the NATO have been affected, which represents a “threat” to the East of Europe. This “threat” has been evidenced through the occupation of Crimea, the unstable situation in Ukraine and the suspension of the international agreements about short-range missiles. The NATO has enhanced its military presence in the Baltic nations, such as Poland, with the deployment of carrier strike battle groups and it supports its most vulnerable members facing this new situation.

The second aspect developed by Nicolás Pascual de la Parte was jihadism and the Islamic terrorism.

The application of the Occidental models – being the communist one or the liberal one – in the Arabic countries during the 20th century caused a general frustration when realizing that none of these models was able to get out the society of its underdeveloped economy. Some social groups took advantage of this situation by using religion to obtain political favors, through a rigorist and fundamentalist interpretation of the Islam, converted into violence in order to achieve the political objectives. The NATO has strengthened their security cooperation with the ally countries which feel threatened, by advising and increasing the defensive capacity.

It has been agreed that every country will increase its defense budget and will bound stronger political ties with the allies of the south and the east.

Finally, Pascual de la Parte ended its speech by talking about the non-conventional threats about which the NATO must adapt itself progressively. For example, threats about cyber-security, fake news and hybrid threats.

As the themes were recent, the participants, who took actively part to the debate and the Q&A round, were really interested.

Again, the Chamber wants to thank the Ambassador for its participation and hope to see him again in future events.

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Luncheon- Debate with Cecilio Madero Villarejo, Deputy Director General at The European Commission Competition Directorate General

Last 11st of April, the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized a luncheon-debate with Cecilio Madero Villarejo, Deputy Director General of the Directorate General for Competition, about “Trends of the European Commission Competition Policy”. The event was attended by executives from various companies, members of the Chamber and representatives of Spanish public bodies.

The President of the Chamber, Juan Rodríguez-Villa Matons, reviewed the academic and professional career of the Director and thanked him for his participation in the event.

Madero began by highlighting the active labour of the European Commission, based on the hard work of people who are truly involved, and who operate as a united and strong organization. Hereafter, he explained that the mission of the General Directorate for Competition is to guarantee a fair and equitable open market, along with the rights of citizens.

Regarding competition policies, he expressed the will to continue along the same lines, adapting to the new technologies and economies, such as ITC, IT and e-commerce. Regulations need to go hand in hand with the changes in the market and the economy, so the justice is done in a way that is fair to all parties.

Antitrust is an issue that the Commission must regulate and control to support the freedom, the democracy and the equality of the market and the companies. In this regard, the Director explained several complex investigations and the new measures that were underway.

Afterwards, in the round of Q&A, the participants raised their issues to the Deputy Director General related mainly with the regulation applied to Big Data and the necessary adaptation due to the constant innovation of the market and the economy.

Finally, Juan Rodríguez-Villa awarded the Deputy Director General in gratitude for his participation in the luncheon-debate.

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Luncheon-debate with Phil Hogan, Commisioner for Agriculture and Rural Development

Last 22nd of March the Official Spanish Chamber of Commerce in Belgium and Luxembourg organized a Luncheon-Debate with Phil Hogan, Commissioner of Agriculture and Rural Development about “Common Agricultural Policy: Added Value for the Future of Europe”. Among the attendees there was the President of the Chamber of Commerce of Córdoba, representatives of the REPER, Chamber members, business executives and also representatives of the Spanish autonomous delegations in Brussels.

The President of the Chamber Juan Rodríguez-Villa Matons reviewed the career path of the Commissioner and thanked for his participation in the event, as well as his interest for the Spanish economy.

Afterwards, the Commissioner expressed being very thankful for attending to the Luncheon-Debate, highlighting that Spain values and cares about rural areas and considers always the agricultural economy. He remarked his six official stays in Spain during which he had the opportunity to meet with representatives of various sectors of the agricultural industry.

Hogan emphasized the importance of the agricultural sector in Spain, being the country of origin of 15% of the exports of the European Union. He highlighted Spanish products such as wine and citrus, which help agricultural growth.

Then he detailed the treaties that the EU has around the world related to agriculture. He also commented that the EU has in process policies for the renewal and innovation of farms, the search for fair trade and measures that are flexible for different sectors of agriculture.

During the questions and answers, the participants raised their questions to the Commissioner regarding different policies and treaties that are being carried out, such as negotiations with MERCOSUR or the need for agricultural market regulation.

Finally, Juan Rodríguez-Villa and Ignacio Fernández de Mesa, President of the Chamber of Cordoba, awarded the Commissioner in gratitude for his participation in the Luncheon-Debate and his work heading the Agriculture and Rural Development Commission.

The President also wanted to make a special mention to Baralides Wines, sponsor of the wine at the event.

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Luncheon-debate with Luis Planas Puchades, Secretary General of the European Economic and Social Committee

Last February 7th, the Chamber of Commerce organized a luncheon-debate with Luis Planas Puchades, Secretary General of the European Economic and Social Committee under the title The European Union and Spain in 2018. The event counted on the presence of the Ambassador of Luxembourg and some 20 representatives of the European institutions and companies’ directors.

Juan Rodríguez-Villa Matons, President of the Spanish Chamber of Commerce in Belgium and Luxembourg pronounced some welcome words and introduced the speaker, bringing to light his recognized professional career.

He also thanked him for his ongoing collaboration with the Chamber through the past years.

Immediately, Luis Planas started his intervention by underlining two essential points: the European elections of May 2019, and the future presidency of the European Commission.

Regarding the first point, he reminded that after the Brexit, 63 seats of the European Commission will be free, thus, having arisen divergent opinions about the future of the Commission. On the one hand, there are people considering it as an opportunity to establish the German electoral system, and on the other hand, those who opt for the redistribution.

For the moment, there are some proposals made in the Parliament which suggest increasing the number of seats of all the member states (for example, increasing them from 54 to 60 in Spain).

Regarding the presidency of the European Commission, he mentioned that Spain clamis that the best choice is a government formed in accordance with the most voted list.

Furthermore, he mentioned the financial perspectives for Europe: the actual budget is set until the year 2020, and the new one will be settled for the following 7 years, that is 2027.

To that, the exit of the United Kingdom from the EU and its respective revenues – estimated at 12 billion-,must be taken into account. Therefore, the Commission pretends to allocate 80% of the budget for the new contributions and the remaining 20% for the budget restrictions.

Another issue which have to be taken into account is how the Common Agricultural Policy of the EU will be administrated, since Spain is one of the main beneficiaries of such funds, and so negotiations will be necessary to meet the best conditions.

The Secretary General also mentioned two aspects of the EU which have to be preserved for the benefit they bring. On the one hand, the Erasmus program and everything related to it: the advantages this program offers are undeniable and that is why there is a consensus about the importance of preserving it. On the other hand, there is the support to the R&D, and all the new challenges in security matters, defense and integration.

He also addressed the dilemma of the Brexit, underlining the perfect work of Michel Barnier and his team, who will keep on fighting for building the best relationship with the United Kingdom.

To conclude, Mr. Planas gave an optimistic vision about the future of the EU, but raised concern about the respect of the law in the member states due to the actual situation occurring in countries such as Poland and Hungary. He reaffirmed that a society without law and respect to the law, constitutions or treaties cannot work from a commercial point of view, neither for the citizens. He also said that it is necessary for the EU to take charge of the social aspects of the European integration. The elements related to the social protection are essential for the cohesion of the society and for its functioning.

Once the public speaking finished, the President of the Chamber and the Spanish ambassador in Luxembourg gave an award to the speaker, as a proof of gratitude.

After the intervention, the participants had the chance to formulate their questions to Mr. Planas. The main topic was the situation around the Brexit and its consequences on the new EU and Spain.

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Breakfast-debate with Ana Gallo: European External Investment Plan and its benefit for Spanish Companies

Last 31st January 2018, the Official Spanish Chamber of Commerce in Belgium and Luxembourg hosted in its headquarters in Brussels a breakfast-debate with Ana Gallo, member of the Cabinet of the European Commissioner for International Cooperation and Development, Neven Mimica, about the “European External Investment Plan (EIP) and its benefit for Spanish companies”. Among the participants, there were members of the Chamber, business executives and representatives of Spanish autonomous delegations in Brussels.

Pablo López Álvarez, Vice-president of the Chamber and moderator of the event, started by saying a welcome word and introduced the speaker, highlighting her broad professional career related to the European Union. As member of the Cabinet of Neven Mimica, her main responsibilities are migration, employment, investment, innovative financing, audit and control, and her geographic operational areas are Latin America and the Caribbean.

Afterwards, Ana Gallo introduced the European External Investment Plan, a project designed by the European Commission to encourage investment in their partner countries in Africa and the EU Neighborhood region, to strengthen their partnerships and to contribute in achieving the Sustainable Development Goals, helping to address some root causes of migration.

This plan emerged as a political response to the migratory crisis and to the immigration problem. In addition, in 2015 the global awareness led to the activation of the Sustainable Development Goals.

Furthermore, Gallo explained the five action sectorial desks of this plan which are: renewable energy and connectivity, sustainable cities, digitalization, micro/SMEs and development of agro-food industry.

Then, she described some of the types of financing for this plan and the different kinds of projects that can be presented to the EIP. These projects must meet the following requirements: they must lead to the achievement of sustainable development goals and they must be realistic, viable and profitable.

She also explained the pillars that support the execution of this plan: it is a project constituted by blending platforms, it ensures until 80% guarantee depending on the country, it has a part of technical support and viability checking, and, in addition, the projects combine grants and loans from financial institutions.

For all those people interested in presenting their projects, Gallo explained how the EIP functions practically, and how the selection process works. If a Spanish company wants to present their projects, first of all they need to go to the One-Stop-Shop so the secretary of the program can decide which entity or development agency would be more convenient. Afterwards, the G-Tag, the committee where the national banks are represented, analyzes the project from a financial point of view, in order to check its viability. Also, the sectorial desks mentioned above, have been created to promote a better distribution of the funds among all the sectors that are meant to be funded.

After Ana Gallo’s speech, the Vice-President of the Chamber opened the debate, marked by a high participation of the attendees. Among the main issues, the most remarkable topics were the renewable energies on the EIP, the running of the project implementation, the countries where it is going to be presented and the functioning of the One-stop-shop.