eu competitiveness — President Nikos Christodoulides is placing EU competitiveness at the forefront as Cyprus prepares to assume the presidency of the Council of the European Union in January 2026. Speaking at the BusinessEurope Council of Presidents in Nicosia, he emphasised the necessity for a stronger, more resilient Union.
Photo: cyprus-mail.com
In his remarks, Christodoulides highlighted that over 70 per cent of the issues addressed during Cyprus’ presidency will focus on enhancing the competitiveness of the European Union. “Finally, this issue is being discussed seriously,” he stated, noting the transition from mere discussions to decisive actions aimed at improving the EU’s competitive standing.
Photo: cyprus-mail.com
The president pointed out the importance of collaboration with the European business community, expressing that discussions held at the Presidential Palace have been beneficial for Cyprus as it gears up for its leadership role. “We have common goals, common pursuits, so as to make the EU competitive,” he said.
Linking competitiveness with the EU’s strategic objectives, Christodoulides remarked, “If you are not competitive, you cannot achieve the goal of strategic autonomy.” He underscored the significance of the upcoming discussions, stating they offer valuable insights as Cyprus prepares to take the helm of EU leadership.
During his keynote address, the president welcomed BusinessEurope to “the European Union’s south-eastern frontier”, acknowledging the critical timing of their presence as Cyprus approaches its presidency. “Cyprus is proud to lead the Council at a moment when we need to collectively deliver for Europe,” he said, reiterating the importance of partnership with the business community.
“An impenetrable partnership with the business community is more vital than ever,” Christodoulides insisted, recognising BusinessEurope’s vital role in shaping the EU’s economic agenda. He articulated that economic strength is essential for geopolitical relevance, stating, “We cannot truly be a global strategic actor as a union without being competitive.”
Reflecting on the geopolitical landscape, particularly in light of the war in Ukraine, he noted, “The Russian invasion has brutally brought to the forefront the price of dependency.” He declared that European autonomy is imperative, extending beyond foreign policy to encompass economic and trade concerns.
To bolster competitiveness, Christodoulides called for better regulation rather than increased bureaucracy. “Reducing administrative burden, cutting red tape, and simplifying reporting obligations will be a cross-cutting priority for our Presidency,” he asserted. He pledged that Cyprus would strive to simplify the European landscape through various Omnibus Simplification Packages.
The President also expressed the need to maximise the potential of the Single Market, calling it Europe’s greatest economic asset. He described the completion and strengthening of its governance as fundamental to increasing productivity and growth.
Looking ahead, Christodoulides promised structured follow-up on the forthcoming Commission’s Single Market Roadmap to 2028. He also highlighted the necessity for a robust and extroverted trade policy, noting that “autonomy and being open to the world are complementary.”
In his remarks, Christodoulides committed to advancing Europe’s trade agenda, emphasising the importance of concluding strategic trade agreements with key partners, including the US, India, and Mercosur.
Addressing fiscal matters, he remarked on the challenges ahead regarding the new Multiannual Financial Framework, stating that it must encapsulate all elements necessary to achieve strategic goals. He expressed confidence that Cyprus is equipped to handle these negotiations, aiming for completion by the end of 2026.
Christodoulides reflected positively on Cyprus’s economic performance, citing recent growth rates among the highest in the Eurozone and a significant drop in unemployment. He noted that Cyprus has regained its ‘A’ investment-grade status, with S&P Global Ratings revising the outlook to positive.
“Cyprus and its people will draw on their unparalleled resilience, and will work hard to deliver on this promise during the upcoming Cyprus Presidency of the Council,” he concluded, echoing the sentiment that every EU member state’s contribution is crucial to the collective European project.
