Source: CropBiotech Update

Industry observers believe that the addition of 10 countries from central and eastern Europe into the European Union will create a wider market for biotechnology companies. In an article in the journal Nature, Sabine Louet noted that the EU enlargement will bring more opportunities and greater visibility to partner with a wider network.

This development is expected to favor smaller companies as established companies have already set up subsidiaries in the United States, Canada and western Europe to offset the problem of not being internationally recognized due to the perception that they are on the "other side of the iron curtain.”

Despite the many advantages of joining the EU, companies in accession countries see the compliance with Brussels' bureaucracy as a major drawback Nevertheless, industry insiders noted that the enlargement process will hopefully bring more venture capitalist investors to their countries. In addition, these countries will now be in a position to exploit advantages that are linked to their location.

Among the 10 new countries are Slovakia, Hungary, and Estonia who are into biotechnology research.

RNature subscribers can read the full article online at http://www.nature.com/biotech/