What percentage of the EU's GDP should be invested in research and development according to the EU 2020 targets?

The European Union has set a target of investing 3% of its GDP in research and development as part of its Europe 2020 strategy. This goal is aimed at fostering innovation, improving competitiveness, and driving economic growth within the member states. The 3% target is significant as it reflects the importance the EU places on research and development in addressing challenges such as technological advancement, sustainable development, and economic resilience. Achieving this percentage is seen as a crucial step towards ensuring that Europe remains a leader in global innovation and can effectively respond to both economic and social needs.