The members of the EU Competitiveness Council are meeting on Monday to discuss a European economic recovery plan and seek a Europe-wide response to the ongoing global financial crisis.

During the two-day meeting, the European Commission, represented by Vice President Guenter Verheugen and Internal Market and Services Commissioner Charlie McCreevy, will present its "European Recovery Plan for growth and jobs."

Ministers for competitiveness and internal market affairs will also adopt conclusions on the "Small Business Act" for Europe and on a specific action plan in favor of European small and medium-sized enterprises (SMEs).

Against a backdrop of a deteriorating European economy, the action plan is expected to bring immediate and targeted solutions for SMEs by facilitating access to funding, simplifying their administrative burden and enabling them to benefit fully from the opportunities offered by the internal market.

At the meeting, the ministers will review the implementation of the European private company status and discuss the shortening of payment deadlines.

They will also examine the progress made over the past half year on a number of strategic dossiers, such as the Community patent, the length of copyright protection and the revision of cosmetics and toys directives.

The gathering precedes a meeting of the Council of EU economic and finance ministers (EcoFin Council), which will open on Tuesday, also in Brussels.

(Xinhua News Agency December 2, 2008)