BusinessEurope hails Cyprus as model of effective state-business cooperation

Cyprus is being recognised as a model of effective cooperation between the state and the business community, a key pillar underpinning the country’s strong economic performance, according to a written statement by the president of the Employers and Industrialists Federation (Oev), George Pantelides.

Pantelides took part on Thursday, February 5, in a working dinner with European Commission President Ursula von der Leyen, in his capacity as vice-president of BusinessEurope, alongside the organisation’s president and senior leadership.

The meeting focused on strategies to strengthen the competitiveness of European businesses. BusinessEurope’s leadership stressed the need for speed and decisiveness in implementing the agreed action plan, warning that without tangible results by 2026, the European economy risks losing further ground.

Emphasis was placed on the need to move swiftly from political ambition to concrete delivery, a demand that, according to the statement, has long been voiced by the European business community.

Within this framework, BusinessEurope is focusing on five key policy priorities regarded as critical for 2026. The first is deeper integration of the single market and a substantial reduction in regulatory burdens, aimed at removing obstacles to cross-border activity.

The second priority concerns lowering energy prices and creating a sustainable business framework for decarbonisation, with BusinessEurope warning that Europe’s energy cost gap compared with key non-EU competitors represents a major competitive disadvantage.

The third pillar relates to managing geopolitical risks and securing access to markets and raw materials, with an emphasis on diversifying trade relations and striking a balance between economic security and open trade.

At the same time, the organisation underlined the importance of boosting investment and innovation to enable Europe to become a technological leader. The fifth priority involves steering social policy towards flexible, non-legislative solutions that enhance productivity while also strengthening social cohesion.

The statement described as particularly positive the recognition of the effective functioning of cooperation between the Cypriot government and the business community, which is seen as decisive in risk management, the strong performance of the Cypriot economy and the achievement of high macroeconomic indicators.

BusinessEurope’s leadership, it added, had the opportunity to observe this cooperation in practice during the meeting of presidents of member organisations from 35 European countries, hosted by OEB in Nicosia last November.