Press Release: Public procurement: new classification system to provide EU businesses with easier access to public contracts

The European Commission has adopted a Regulation that updates the Common Procurement Vocabulary (CPV), which is the EU-wide classification system for public procurement contracts. The new system will be more user-friendly and will take into account recent developments in technology, making it easier for businesses and SMEs to sell their products and services to public authorities across the EU. Every day, public procurement business opportunities worth almost €1 billion are added to the Tenders Electronic Daily (TED) database {http://ted.europa.eu}, where all calls for tender in the EU are published. The CPV helps all EU businesses to easily identify these contracts irrespective of the original language of the tender notice, thereby increasing competition, efficiency and transparency.

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