Madeira argues that its economic progress should not lead to the loss of the specific treatment it benefits from as an outermost region (OR) of the European Union. The Regional Secretary for Finance, Duarte Freitas, presented this position during a meeting with a delegation from the Committee on Regional Development (REGI) of the European Parliament.
Freitas recalled that in 1986, Madeira was one of the poorest regions in Europe, and European funds were crucial for its convergence. However, he stressed that the persistent challenges of insularity, such as transport and energy costs, the small market size, and isolation, continue to condition the economy.
Therefore, the Regional Government is requesting, for the next financial framework, the maintenance of adequate funding and specific instruments for ORs, arguing that differentiated treatment should not depend solely on GDP. Close management of funds and a direct relationship with the European Commission were also advocated, highlighting areas like energy, sustainability, and innovation where Madeira can contribute to European priorities.
