19.12.2008 Official Journal of the European Union L 340/83 DECISION No 1298/2008/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 16 December 2008 establishing the Erasmus Mundus 2009-2013 action programme for the enhancement of quality in higher education and the promotion of intercultural understanding through cooperation with third countries (Text with EEA relevance) THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Community, and in particular Article 149(4) thereof, Having regard to the proposal from the Commission, Having regard to the opinion of the European Economic and Social Committee (1), After consulting the Committee of the Regions, Acting in accordance with the procedure laid down in Article 251 of the Treaty (), Whereas: (1) Decision No 2317/2003/EC of the European Parliament and of the Council (%) established a programme for the enhancement of quality in higher education and the promotion of intercultural understanding through coop- eration with third countries (Erasmus Mundus) (2004- 2008). (2)  Council Regulation (EC) No 1085/2006 (*) established an Instrument for Pre-Accession Assistance (IPA), Regulation (EC) No 1638/2006 of the European Parliament and of the Council (°) established a European Neighbourhood and Partnership Instrument, Regulation (EC) No 1905/2006 of the European Parliament and of the Council (°) established a financing instrument for devel- opment cooperation, Council Regulation (EC) No 1934/2006 () established a financing instrument for co- operation with industrialised and other high-income countries and territories and the Partnership Agreement (1) O] C 204, 9.8.2008, p. 85. (3) Opinion of the European Parliament of 21 October 2008 (not yet published in the Official Journal) and Decision of the Council of 16 December 2008. L 210, 31.7.2006, p. 82. L 310, 9.11.2006, p. 1. L 378, 27.12.20006, p. 41. L 405, 30.12.20006, p. 41. ) ) (') between the members of the African, Caribbean and Pacific Group of States and the European Community and its Member States, signed in Cotonou on 23 June 2000 (%) (the ACP-EC Partnership Agreement) and the Internal  Agreement establishing the financing of Community aid under the multiannual financial framework for the period 2008 to 2013 in accordance with the ACP-EC Partnership Agreement and the allo- cation of financial assistance for the Overseas Countries and Territories to which Part Four of the EC Treaty applies (°) (Internal ACP-EC Agreement), govern the European Development Fund. The new Erasmus Mundus programme is consistent with the objectives of excellence set out in the programme for 2004 to 2008. It helps attract the best students from third countries due to the quality of the studies on offer, the quality of the reception arrangements and a scho- larship scheme that can compete with any in the world. During the course of negotiating the external assistance instruments and the Interinstitutional Agreement on budgetary discipline and sound financial management (1%), the European Parliament, the Council and the Commission reached a number of under- standings on democratic scrutiny and coherence of external action, which are set out in Declaration 4 to the Interinstitutional Agreement. The Bologna Declaration, signed by the Ministers for Education of 29 European countries on 19 June 1999, established an intergovernmental process aimed at creating a ‘European Higher Education Area’ by 2010, a process which is actively supported at Community level. At their meeting in London on 17 and 18 May 2007, the 45 Ministers of Higher Education of the countries participating in the Bologna process adopted the strategy ‘The European Higher Education Area in a Global Setting’ and, in this context, identified as priorities for 2009 improved information about the European Higher Education Area and improved recognition of higher education qualifications with other parts of the world. The extraordinary European Council meeting in Lisbon on 23 and 24 March 2000 set a strategic goal for the European Union to become the most competitive and dynamic knowledge-based economy in the world and 317, 15.12.2000, p. 3. o L 0] L 247, 9.9.2006, p. 32. 0] C 139, 14.6.2006, p. 1.