EESC Employers' Group hosts conference on SME competitiveness in Cyprus

The Cyprus Chamber of Commerce and Industry (CCCI) hosted an extraordinary meeting of the European Economic and Social Committee (EESC) Employers' Group in Nicosia. The event, held in the context of the Cypriot Presidency of the Council of the EU, focused on the theme of 'Strategic autonomy through competitiveness: SMEs at the core of Europe's preparedness.' Minister of Energy, Commerce and Industry Michalis Damianou addressed the attendees, noting that 99% of Cyprus's approximately 125,000 businesses are Small and Medium-sized Enterprises (SMEs). The Minister emphasized that while SMEs are vital for employment and innovation, they face significant structural hurdles including high energy costs, regulatory complexity, and limited funding. Other key speakers included Dimitris Georgiades of the Competitiveness Council, Michalis Persianis of the Fiscal Council, and economist Maria Heracleous. Representatives from the CCCI and the Cyprus Employers and Industrialists Federation (OEB), Manthos Mavrommatis and Michalis Antoniou, also participated in the discussions. The dialogue highlighted the need for targeted policies to bolster SME resilience to ensure European strategic autonomy.