1. Mission and scope of EPCO cooperation

• The Eurosystem aims at complying with the principles of cost-efficiency and effectiveness and seeks the best value for money from the procurement of goods and services. The Governing Council considers joint procurement of oods and services to be an instrument to achieve these objectives by exploiting synergies and economies of scale.
• By establishing a framework for joint Eurosystem procurement, the European Central Bank (ECB) aims at fostering the participation of the ECB and the national central banks of the Member States that have adopted the euro in such joint procurement.
• The national central banks of the Member States that have not yet adopted the euro may have an interest in participating in EPCO’s activities as well as in joint tender procedures, which will take place under the same conditions as those applying to the central banks.
• Participation of central banks in EPCO’s activities and in joint tender procedures is voluntary.

 Main features of EPCO cooperation as outlined in:  Decision of the ECB of 17 November 2008 (ECB/2008/17).

 1 December 2008: Press release "Eurosystem Procurement Coordination Office (EPCO)".