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It is with great pleasure that I welcome you to the Presidential Palace for the 2021 Cyprus Export Award Ceremony. A renowned institution which, since its inception in 1982, recognizes and rewards the extroversion, entrepreneurial spirit and social contribution of companies from all sectors of Cypriot exports of industrial and agricultural products and services.
Particularly today, in the difficult international environment in which we have to operate, exports are an important pillar of our economy and an essential component for the sustainable economic development of the country and the effort to strengthen its competitiveness and, by extension, its competitiveness, Despite the challenges we faced, we recorded a significant increase of 14.5% compared to the previous year.
At the same time, a similar increase of 17% compared to 2021 was also recorded in services exports, which reached €20.2 billion.
The Government, recognizing the importance and significance of exports, supports the extroversion of Cypriot businesses in various ways, implementing actions for the penetration, promotion and promotion of Cypriot products and services in foreign markets. Among others, these actions include the presentation at major international exhibitions, the implementation of Sponsorship Plans for the granting of aid to companies for participation in major trade fairs in Cyprus and abroad, the preparation and implementation of a new Sponsorship Plan in order to further strengthen the extroversion of Cypriot companies, the holding of targeted events and relevant entries in specialized publications abroad.
We need to see, and I am also addressing the leadership of the KEBE, which is a partner of the Cypriot Chamber of Commerce and Industry. We need to do an evaluation of all these actions that have taken place over the past years, so that we can continuously improve and help in practice the extroversion of Cypriot businesses and it is in this context that last week we had an inter-agency meeting at the Presidential Palace and subsequently we will see you, our key partners, to see how we work together to strengthen both the name and the credibility of our country abroad, which is also a key ingredient for the extroversion of Cypriot businesses. And such actions were important in 2022, and there were some very successful ones in 2023, such as in the United Arab Emirates, Kazakhstan, Japan, the United Kingdom, the United States, but this is another area where we need to move in a targeted way to work in order to get more results.
The Ministry has a specialised service which, in cooperation with our Trade Centres, offers assistance and guidance to Cypriot companies for access to foreign markets.
The Ministry has a specialised service which, in cooperation with our Trade Centres, offers assistance and guidance to Cypriot companies for access to foreign markets. At the same time, in order to strengthen their export efforts, specialised actions are being taken, for example, the establishment of the National Visual Identity for the Products of Cyprus Branding, as well as the implementation of the National Action Plan for the Promotion of Cypriot Wine, which seeks to promote the quality and special characteristics of Cyprus wines, both internationally and domestically.
It is important, and taking into account my previous experience both as Government Spokesperson and as Foreign Minister when I participated in some trade missions, I have the impression that we should be more targeted, more specific. We cannot organise empirical missions during which we present all the products that Cyprus has to offer. I think this is a sign of amateurism, so we should be more professional in our actions, taking into account the international competition that exists.
And in this context there is another dimension that is particularly important, which is the strengthening of our political relations. Because you understand that political relations open up avenues for business missions on the one hand, but on the other hand, for political relations to be able to endure, if there are no economic, business ties, this objective is not possible. So, both sides, you and we, should cooperate in these actions.
At the same time, we know very well that one issue that significantly affects the competitiveness of Cypriot businesses is the issue of energy. An issue that is of great concern to you and because we know that it is an issue directly intertwined with the competitiveness of Cypriot businesses, one of our main objectives is to reduce the cost of electricity both for businesses and of course for consumers. It was in this context that we also redefined our energy strategy, intensifying the effort to implement policies and actions towards the green transition, but also giving great importance to the issue of power generation. Precisely because of Cyprus' isolated system, the lack of energy interconnections with other countries, and our dependence on imports of energy products, natural gas - which was the goal and declaration of the previous government - can be a key fuel as a bridge, not as a solution, for achieving our climate goals, transforming our economy into a circular one, but also strengthening the competitiveness of our country. The Minister has repeatedly referred to them and we are working in cooperation with Israel, a country where we have seen that there is similar interest, there is potential, to see how through specific actions as soon as possible to address this issue.
In this direction, we are also promoting the project of electrical interconnection between Cyprus, Greece and Israel, which will remove the energy isolation of our country and create the conditions for even greater penetration of renewable energy sources (RES).
In this direction, we are also promoting the project of electrical interconnection between Cyprus, Greece and Israel, which will remove the energy isolation of our country and create the conditions for even greater penetration of renewable energy sources (RES). The aim of the Plans is to promote energy efficiency and renewable energy investments in public and private buildings, residences and businesses, providing increased subsidies for all and high grant rates for our vulnerable compatriots.
In particular, for residences, Plans for overall energy upgrading are provided, as well as specific Plans for thermal insulation of roofs and/or installation of photovoltaic systems for electricity production for self-consumption and for charging of electric or hybrid vehicles.
In particular, for residences, Plans for overall energy upgrading are provided, as well as specific Plans for thermal insulation of roofs and/or installation of photovoltaic systems for electricity production for self-consumption and for charging of electric or hybrid vehicles. At the same time, there is a Plan for the encouragement of comprehensive energy upgrading of buildings and facilities of local government authorities and entities of the wider public sector, while the "Save - Upgrade in businesses and other entities" Plan promotes green investments through integrated energy upgrading solutions.
Finally, the State, realizing the importance of financing and that it is one of the key factors of business activity, has secured funding from the European Structural Funds. In addition to investments in RES and energy saving, the Plans cover, among other things, the technological upgrading and support of the manufacturing sector, as well as the marketing of agricultural products, the strengthening of new entrepreneurship, the encouragement of investments in the circular economy and the digital upgrading of businesses, which is another equally important pillar.
In conclusion, I would like to assure you that the Government, recognizing the great contribution of our business community to society and our economy, will continue to support its members in a practical and targeted manner, with particular emphasis on the export sector, which is very important for the economy of our country. Always in cooperation with you, our intention is to intensify our efforts to promote entrepreneurship and innovation, working to create a more favourable environment for our businesses.
I warmly thank the Chairman and the members of the Cyprus Export Award Selection Committee for their excellent work and, of course, the CEBE, the other co-organiser of the Award and our main partner in business issues and not only, for all its activities and initiatives. Your vision, your business initiatives and your dedication to excellence are the main factors that have led you to this success and I would like to encourage you to continue the excellent work you are doing.
It is an opportunity through today's event, not only to award but also to use it as an incentive for even more investment in research and the development of new, innovative products and services, thus contributing, among many other things, to further enhance the level of Cypriot exports.
(PM/EXP)
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