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The Director General of the Ministry of Energy, Trade and Industry, Mr Marios Panagidis, participated in the work of the EU Competitiveness Council (Internal Market and Industry), held today in Brussels.
The Council adopted the Conclusions "on a competitive European industry as a driving force for our green, digital and resilient future". In his intervention, Panagides welcomed and supported the Conclusions, stressing that it is imperative to put in place a strong framework to enhance the competitiveness of European industry. He informed that Cyprus is reviewing its current national industrial policy to bring it in line with the European approach. He also stressed that Cyprus, as an isolated island country with a small market, faces additional barriers and challenges and, therefore, tailored policies and strategies are needed to overcome the obstacles and effectively achieve the objectives for all member states.
During the Council's work, the Conclusions on "a Single Market for the benefit of all" were also adopted. Panagides supported the text, stating that a fully functioning Single Market must be based on common EU rules creating a clear, coherent and harmonised legal framework. Furthermore, he said that reducing administrative burdens, achieving the 25% reduction target on reporting obligations by companies and implementing the "one time only" principle and the "think small first" approach should be a priority.
Furthermore, Panagides agreed with the reference in Enrico Letta's recent report that the Single Market needs to be redesigned to respond to the current geopolitical backdrop. He underlined Cyprus' commitment to the objective of removing existing barriers and implementing the necessary reform so that the Single Market continues to serve the needs of the EU and is a factor of security, unity and prosperity.
During the informal working lunch, in the presence of EU Competition Commissioner Margrethe Vestager, an exchange of views took place on the topic "Towards a successful, competitive and accelerated green transition for energy-intensive industries".
Finally, it is noted that Mr Panagides yesterday represented the Republic of Cyprus at the high level meeting in relation to the Net-Zero industry legislation and the "Net-Zero Europe" platform, which aim to enhance the attraction of clean industries in the EU.
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