A publication entitled, "Towards a European strategy for nanotechnology" calls for Europe to triple nanotechnology research and development spending by 2010 within the context of a the Sixth Research Framework Programme (2002-2006) which has set aside 1.3 billion euros (about US$1.5 billion) for nanotechnology and a proposed doubling of the European Union research budget in the 2007-2013 period.

The European Union region produced 32 percent of international nanotechnology publications between 1997 and 1999, compared to 24 percent in the USA and 12 percent in Japan, the European Commission said. But, it added, Europe is now investing proportionately less than its main competitors: both the USA and Japan invest more per capita in nanotechnology and this gap is expected to widen in the next few years if Europe does not take appropriate initiatives.

"Nanotechnology is fast becoming one of the most promising and rapidly expanding fields of R&D. To make the most of European excellence in nanosciences, research must be translated into commercially viable products and processes," said European Research Commissioner Philippe Busquin, in a statement. "In order to provide new impetus towards the knowledge-based objectives in the Lisbon process and turn the EU into the most dynamic powerhouse on the world stage, Europe must increase its collective efforts and investment in this field. It is crucial that we help to create a favourable environment for innovation in the nanotechnology sector, particularly in reference to small and medium sized enterprises."

The Communication also highlighted the need to identify and address safety, health and environmental concerns associated with nanometer-scale technologies and to promote risk assessment procedures at all stages of the technology's life cycle. Such issues could also be addressed at international-level to ensure that nanotechnology is developed in a safe and responsible manner worldwide.