91 The futu re of th eCommon Agricultural Policy an d the challenge sfacing theoutermost regions: th e case of the Azores JORGE ALBERTO SERPA DA COSTA RITA President of the AASM – São Miguel Agricultural Association Since the founding of the European Union, the Common Agricultural Policy (CAP) has been one of the cornerstones of the European project. Over the decades, the CAP has ensured not only farmers' incomes, but also territorial cohesion, food security and environmental sustainability in European regions. However, in the face of current challenges such as the war in Ukraine, climate change, pressure on international markets and the digital transition, it is necessary to reflect on the future of this policy and how it can continue to respond to the different realities that make up the Union. The European Commission's proposal for the next Multiannual Financial Framework (2028-2034) and for the new CAP Regulations has reopened a crucial debate on the capacity of agricultural policy to ensure territorial coherence and economic resilience in a context of strong international uncertainty. Among the main elements of these proposals, the intention to reorganise the financial instruments aimed at the Outermost Regions (ORs) stood out, introducing greater harmonisation and reducing margins for differentiation. If fully implemented, this approach would mean the loss of autonomy of the Programme of Options Specifically Relating to Remoteness and Insularity (POSEI) and its integration into more general CAP mechanisms. The proposal was received with concern by the ORs, given the risks it poses to production stability and food security in their territories. In response, the European Parliament emphasised the importance of Article 349 of the Treaty on the Functioning of the European Union (TFEU) and advocated maintaining specific mechanisms for the ORs, including preserving POSEI as an autonomous instrument. The evolution of the legislative process reinforces the need for a careful analysis of the impact that these changes could have on the Azores. The ORs constitute a unique geopolitical, environmental and economic asset for the European Union. Their contribution covers strategic areas ranging from the
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