Greenland–European Union relations and 2020, €217.8 million are planned for sustainable development, with focus on education. In 2015, a joint declaration about closer relations between EU and Greenland was signed by Denmark, Greenland and the EU. In March 2015, the President of the EU Commission, the Prime Minister of Denmark and the Greenland Premier signed 'an umbrella' framework document outlining EU-Greenland relations, a "Joint Declaration on relations between the European Union, on the one hand, and the Government of Greenland and the Government of Denmark, on the other". By this document, the EU confirms its long lasting links with Greenland and reiterates the
Greenland a tight fiscal policy since the late 1980s, which has helped create surpluses in the public budget and low inflation. Since 1990, Greenland has registered a foreign-trade deficit following the closure of the last remaining lead and zinc mine that year. More recently, new sources of ruby in Greenland have been discovered, promising to bring new industry and a new export from the country. (See Gemstone industry in Greenland). Air transportation exists both within Greenland and between the island and other nations. There is also scheduled boat traffic, but the long distances lead to long travel times and low frequency.