The PI will finance activities in a number of areas of key interest to the Union. This funding will support the external dimension of EU internal policies – in areas such as competitiveness, research and innovation, as well as migration – and help to address major global challenges such as energy security, climate change and environmental protection. As one of its main orientations, it will contribute to the external projection of the Europe 2020 Strategy.
The PI will also deal with specific aspects of the EU's economic diplomacy with a view to improving access to third-country markets by boosting trade, investment and business opportunities for European companies. It will encourage public diplomacy, people-to-people contacts, academic and think tank cooperation and outreach activities.