Cyprus chamber of commerce joins Brussels talks on global trade system

The Cyprus Chamber of Commerce and Industry (Keve) on Thursday announced that its secretary general Philokypros Roussounides participated in a high-level roundtable discussion in Brussels, focused on the multilateral trading system.

The discussion, titled “Revitalising the Multilateral Trading System, with a focus on Europe”, was co-organised by the International Chamber of Commerce and Eurochambres in Brussels.

The meeting focused on the need to revitalise the multilateral trading system, particularly from a European perspective, at a time when global trade is increasingly shaped by geopolitical developments and shifting economic conditions.

Discussions examined the impact of the evolving geoeconomic environment on global trade, as well as the challenges facing the current multilateral framework and the prospects for strengthening international trade cooperation.

Particular attention was given to the future of multilateral trade following the 14th WTO Ministerial Conference, alongside European approaches to ongoing international trade developments.

During a session on rules of origin, Roussounides stressed that these rules have taken on a far more strategic role in recent years.

“Rules of origin have evolved from a technical tool into a critical factor that directly affects the configuration of supply chains, investment decisions and companies’ access to international markets,” he said.

Drawing on the chamber’s role in issuing certificates of origin, he explained that businesses, especially small and medium-sized enterprises, are facing increasing complexity and administrative burdens.

He also underlined the importance of simplifying procedures and aligning rules across trade agreements to ensure they remain accessible and effective.

“Businesses, particularly SMEs, are facing growing complexity and administrative burden, making greater simplification and convergence of rules essential,” he said.

Roussounides also highlighted the importance of accelerating the digitalisation of trade processes, noting that fully digital and interoperable certification systems are becoming a priority at the European level.

“The transition to fully digital and interoperable systems for certificates of origin is a key priority at European level,” he stated.

He added that chambers of commerce can play a decisive role as trusted intermediaries, supporting both efficiency and reliability in these processes.

“Chambers can play a decisive role as reliable intermediaries, contributing to both efficiency and the credibility of procedures,” he said.

Referring to Cyprus, he said the country’s position within the European Union gives it a strategic advantage in international trade.

He emphasised that as an EU member state and regional hub for trade and investment, the effective implementation of rules of origin is crucial.

“As a member state of the European Union and a regional hub between Europe and neighbouring regions, effective implementation of rules of origin is critical for supporting cross-border value chains and facilitating trade,” he explained.

What is more, the chamber mentioned that the roundtable discussion brought together senior representatives from European and international organisations, as well as members of the European and global business community.

“The participation of Keve’s secretary general is considered particularly important given that the discussions addressed issues directly affecting business operations, competitiveness and access to international markets,” the chamber stated.

“At the same time, Keve’s presence in such forums strengthens its ability to monitor and contribute to European and international developments, while identifying emerging trends in the global trade environment,” it added.

The chamber also said that it enables it “to inform the Cypriot business community in a timely manner about opportunities, challenges and key developments“.

In addition, Keve reiterated its commitment to “active participation in European and international forums, aiming to promote the interests of Cypriot businesses and support their outward orientation”.

The organisation also stressed its role in contributing to “the development of a stable, modern and effective framework for international trade“.