EU's autonomy is about being extrovert from a point of internal strength and about how Europe can stand taller, for itself, projecting its values, forging bold partnerships in a turbulent world and values must be merged with interests and interests start from the economy, President Nikos Christodoulides said on Friday.
The President was the keynote speaker at the BusinessEurope Council of Presidents which convenes in Nicosia, ahead of Cyprus EU Presidency beginning January 1st.
"The geopolitical realities we are faced with have not only shaken Europe. They have galvanised it into action. To remove our strategic dependencies. To stand tall on its own," he noted, pointing out that European autonomy is no longer debatable or theoretical but an imperative that we need to deliver on with urgency.
President Christodoulides went on to say that the Letta and Draghi reports outlined clearly and convincingly that Europe must act with urgency to restore productivity and point clearly to the reforms Europe must advance.
"Our Presidency will put this agenda at the forefront. Because to strengthen Europe’s global position, we must reinforce the fundamentals of competitiveness. To deepen the Single Market", he said.
President Christodoulides also said that we need to make European rules simpler and easier for our businesses, SMEs and young innovators in order to thrive.
"Cyprus will work hard to make the European landscape simpler, faster, smarter. Moreover, the single market remains Europe’s greatest economic asset, yet still our most underused one. Completing it and strengthening its governance, including through the Single Market Strategy, are among the fastest paths to raise productivity and growth", he said.
The President also referred to the European Commission’s forthcoming Single Market Roadmap to 2028 saying that "our Presidency will ensure structured follow-up and political guidance on its actions."
He also said that advancing Europe’s trade agenda will be a central element of Cyprus Presidency, adding that Europe’s South Eastern neighbourhood, the Gulf is essential to achieving our Union’s long-term strategic goals.
In his speech he also referred to the new Multiannual Financial Framework pointing out that Cyprus will accelerate negotiations on the new MFF, aiming to bring them at a point that will enable us to complete the work by the end of 2026.
He added that Cyprus stands not only as a symbol of resilience, but as a European economic success story, embracing a new era of sustainable growth and economic engagement. The President referred to the 2024 growth rate of 3.9%, one of the highest in the Eurozone and the 2025 forecast for 3.4%, the third highest in the Eurozone.
He noted that unemployment has fallen below 5%, primary surplus for 2024 has exceeded 4%, while public debt is already below 60% of GDP and for the first time since 2011, all major rating agencies have restored Cyprus to “A” investment-grade status.
"These results reflect a broader reform effort by the Government, focused on modernising our economy and strengthening the business environment. They also go hand in hand with an extrovert and ambitious foreign policy," he pointed out.
President Christodoulides also referred to the reforms underway with the aim to enhance transparency, government efficiency and competitiveness.
He made special reference, among other things, to the comprehensive tax reform, the first in twenty years, which sets the foundations for a fairer, more modern and investment-friendly tax framework and the digitalization of the state , pointing out that all reforms reflect a clear direction "to reform the system so that it is simpler, more predictable and more attractive for business, investment and growth".
CNA/KCH/EPH/2025
ENDS, CYPRUS NEWS AGENCY
