31.7.2006 Official Journal of the European Union L 210/25 COUNCIL REGULATION (EC) No 1083/2006 of 11 July 2006 laying down general provisions on the European Regional Development Fund, the European Social Fund and the Cohesion Fund and repealing Regulation (EC) No 1260/1999 THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Com- munity, and in particular Article 161 thereof, Having regard to the proposal from the Commission, Having regard to the assent of the European Parliament ('), Having regard to the opinion of the European Economic and Social Committee (), Having regard to the opinion of the Committee of the Regions (%), Having regard to the opinion of the Court of Auditors (%), Whereas: (1)  Article 158 of the Treaty provides that, in order to strengthen its economic and social cohesion, the Com- munity is to aim at reducing disparities between the levels of development of the various regions and the backwardness of the least favoured regions or islands, including rural areas. Article 159 of the Treaty requires this action to be supported by the Structural Funds, the European Investment Bank (EIB) and the other existing Financial Instruments. (2)  Cohesion policy should contribute to increasing growth, competitiveness and employment by incorporating the Community’s priorities for sustainable development as defined at the Lisbon European Council of 23 and 24 March 2000 and at the Goteborg European Council of 15 and 16 June 2001. (3)  Economic, social and territorial disparities at both regional and national level have increased in the enlarged European Union. Actions for convergence, competitiveness and employment should therefore be increased throughout the Community. (4)  The increase in the number of the Community’s land and sea borders and the extension of its territory mean that the value added of cross-border, transnational and interregional cooperation in the Community should be increased. (5)  The Cohesion Fund should be integrated into the programming of structural assistance in the interest of greater coherence in the intervention of the various Funds. (1) Assent of 4 July 2006 (not yet published in the Official Journal). () 0] C 255, 14.10.2005, p. 79. () O] C 231, 20.9.2005, p. 1. () 0] C 121, 20.5.2005, p. 14. (6)  The role of the instruments providing aid for rural devel- opment, namely the European Agricultural Fund for Rural Development pursuant to Council Regulation (EC) No 1698/2005 of 20 September 2005 on support for rural development by the European Agricultural Fund for Rural Development (EARDF) (°), and for the fisheries sector, namely a European Fisheries Fund (EFF), should be specified. Those instruments should be integrated into the instruments under the common agricultural policy and the common fisheries policy and coordinated with those under the cohesion policy. (7)  The Funds providing assistance under the cohesion policy are therefore limited to the European Regional Develop- ment Fund (ERDF), the European Social Fund (ESF) and the Cohesion Fund. The rules applicable to each Fund are to be specified in implementing regulations adopted under Articles 148, 161 and 162 of the Treaty. (8)  Under Article 55 of Council Regulation (EC) No 1260/ 1999 of 21 June 1999 laying down general provisions on the Structural Funds (°), the Council is to review that Regulation on the basis of a proposal from the Commis- sion by 31 December 2006 at the latest. In order to implement the reform of the Funds proposed by this Regulation, Regulation (EC) No 1260/99 should be repealed. (9)  To increase the value added of Community cohesion policy, the work of the Structural Funds and of the Cohesion Fund should be concentrated and simplified and the objectives set out in Regulation (EC) No 1260/ 1999 redefined accordingly as seeking the convergence of the Member States and the regions, regional competi- tiveness and employment and European territorial coop- eration. (10)  Within those three objectives, both economic and social characteristics and territorial characteristics should be taken into account in an appropriate fashion. (11) The outermost regions should benefit from specific measures and additional funding to offset the handicaps resulting from the factors referred to in Article 299(2) of the Treaty. () OJ L 277, 21.10.2005, p. 1. (") OJ L 161, 26.6.1999, p. 1. Regulation as last amended by Regu- lation (EC) No 173/2005 (OJ L 29, 2.2.2005, p. 3).