The deal paves the way for better law-making in the EU which will deliver benefits for citizens and companies, said Dutch foreign minister Bert Koenders, who is president of the council.
Laws will become simpler to understand and implement,” he explained. “That will make the life of citizens, businesses and the administration easier.”
Under the agreement, the three institutions will annually agree the legislative priorities for the coming year. They will widen the impact assessments of new initiatives to take into account the impact on competitiveness, especially for SMEs, the burden on business and the cost of not taking action at EU level.
They will also review existing legislation with a view to simplification and establish an annual regulatory burden survey to ensure that EU laws are fit for purpose.
The institutions intend to set up a joint database which will show the progress of legislative files. The idea is to make the process transparent so that the public will be able to understand it better.