Commerce Ministry Permanent Secretary participates in EU Competitiveness Council meeting

The Permanent Secretary of the Ministry of Energy, Commerce and Industry, Marios Panayides, participated in the meeting of the Competitiveness Council of the European Union (Internal Market and Industry), which took place in Brussels.

According to a press release by the Ministry, the first topic of discussion during the 12 March meeting was the recent Commission Communication on the Clean Industrial Deal, following the presentation of the Competitiveness Compass. Panayides welcomed the Deal and stressed the need to reduce high energy prices, which remain a serious challenge for European industry.

He also stressed the importance of ensuring access to critical raw materials through the diversification of their supply chains. He advocated securing substantial European funding for research and innovation, from which Small and Medium-sized Enterprises (SMEs) could also benefit. Finally, he noted that it is necessary to simplify regulatory procedures and facilitate access to funding, ensuring a level playing field in the context of the revision of the State Aid Rules.

This was followed by an orientation debate on the horizontal strategy for the modernisation of the single market and the creation of an action plan for services. The permanent secretary stressed the importance of the services sector for the Cypriot economy and called for simplification and harmonisation between Member States of administrative procedures relating to cross-border commercial services. He stressed the need to reduce the administrative burden, especially for SMEs.

Council participants also exchanged views on the package of legislative proposals on simplification (Omnibus) from the European Commission. Cyprus welcomed these Commission initiatives and called, inter alia, for a stronger dialogue with businesses and further digitisation of procedures.

There was also a discussion on the Carbon Border Adjustment Mechanism and ways to strengthen it, ensuring the competitiveness of European industry. Cyprus supported efforts to reduce the administrative burden and stressed the need to incorporate support measures for energy-intensive industries, which will be affected by the abolition of free emission allowances and the increase of the minimum threshold for the implementation of the Mechanism.

Panayides further participated in a working lunch, during which a discussion was held on e-commerce and the tools of the European Union to ensure its security and sustainability. In his intervention, the permanent secretary stressed the importance of strengthening overseeing authorities with the use of digital solutions, as well as the strict implementation of the Digital Services Act to protect European businesses and in particular SMEs.

(Source: CNA)