The promotion of electromobility, the new strategy for competitiveness and the impact of artificial intelligence on it were the main topics of the two-day Informal Meeting of EU Competitiveness Ministers for Internal Market and Industry, which took place between 8 and 9 July 2024 in Budapest, in the framework of the Hungarian Presidency of the Council of the European Union, with the participation of the Permanent Secretary of the Ministry of Energy, Trade and Industry, Marios Panayides.
According to an Energy Ministry press release, in his intervention on the promotion of electromobility and the achievement of the targets set for 2035, Panayides said that this will depend on the cost of electric cars compared to conventional cars and the expansion of the infrastructure network in the EU, while he also mentioned the actions of the Republic of Cyprus towards these areas, enhancing the promotion of electric cars.
Regarding competitiveness, Panayides stressed the need for the EU to become business-friendly agai
n and to formulate appropriate policies to bridge the gap with its global competitors, the US and China, and to promote the green and digital transformation of its economy.
He added that the impact of artificial intelligence on the competitiveness of economies is expected to be catalytic, so the EU must act swiftly to help its businesses, especially Small and Medium Sized Enterprises (SMEs), to exploit the opportunities it offers.
Source: Cyprus News Agency