[PIO] Participation of the Director General of the Ministry of Energy, Trade and Industry in the EU Competitiveness Council

The Director General of the Ministry of Energy, Trade and Industry, Mr Marios Panagidis, participated in the Competitiveness Council of the European Union (EU), which took place today in Brussels.

During the Council's proceedings, an orientation debate was held on the proposal for a Regulation on combating late payments in commercial transactions. Welcoming the proposal, Panagides said that it is extremely important to develop a fair and comprehensive framework for the protection of European businesses, in particular Small and Medium Enterprises (SMEs). He argued that it is also important to avoid excessive administrative burden for the competent authority.

The "27" also exchanged views on the Commission's Annual Report 2024 on the Single Market and Competitiveness. The Director-General, in his intervention, underlined the importance of removing barriers, improving the business climate and reducing the regulatory burden on business. He also stressed that support instruments should be mainly targeted at SMEs, underlining the additional challenges that businesses face from increased energy costs.

Further, at the initiative of Germany and the Netherlands, the need to update the EU's strategy for the maritime sector was discussed. Panagides argued that all dimensions of the sector's competitiveness should be taken into account. He also referred to the issues facing the sector in recent years, which make it necessary to adopt specific policies to ensure its competitiveness at global level.

In addition, France, Romania and Malta presented proposals for an ambitious European strategy to address the shortage of medicines. The Director-General supported the initiative of the three countries, while noting the need to strengthen the EU's production capacity and reduce dependencies on third countries.

Finally, during a working lunch, held in the presence of the Internal Market Commissioner, Mr. Thierry Breton, there was an exchange of views on the future of EU industrial policy.

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