COREPER I was chaired by the Lithuanian Presidency and outlined the Horizon 2020 package of four legislative acts that were agreed following trilogue negotiations between the European Commission, the Council of the European Union and the European Parliament. The package includes the 

• Regulation establishing Horizon 2020; 
• Regulation for a single set of rules and dissemination,  
• Regulation establishing the European Institute of Innovation and Technology  and 
• Decision on the Strategic Innovation Agenda of the European Institute of Innovation and Technology.

Speaking at the meeting, Lithuanian Ambassador Arūnas Vinčiūnas, chairman of COREPER I, thanked the previous Council Presidencies for their substantial work on Horizon 2020 negotiations. The Danish, Cypriot and Irish Presidencies have all focused on Horizon 2020, with an agreement in principle during the Irish Presidency last month.

A budget of €70.2bn has been allocated to the Horizon 2020, including the EURATOM programme, in the 2014-2020 Multiannual Financial Framework (2011 prices). The approval at COREPER meeting will pave the way for a timely agreement at first reading on the Horizon 2020 package, pending the European Parliament plenary vote early autumn.