Brussels: European businesses are expressing high expectations for significant outcomes from Cyprus’ upcoming Presidency of the Council of the EU, aiming to address key priorities such as simplification and competitiveness, according to Frederick Persson, President of BusinessEurope. In an interview with Cyprus News Agency (CNA), Persson emphasized the importance of Cyprus’ Presidency in delivering tangible results for businesses across Europe.
According to Cyprus News Agency, BusinessEurope convened in Cyprus for a two-day session before the EU Presidency transition from Nicosia on January 1, 2026, to discuss their strategic priorities. Representing 42 federations across 36 European countries, BusinessEurope advocates for approximately 25 million businesses. Persson highlighted the critical role of the Cyprus Employers and Industrialists Federation (OEB) within this framework.
Persson addressed the most pressing challenges facing European businesses, identifying regulation as the primary concern. He underscored the need to unleash the potential of businesses, particularly small and medium-sized enterprises (SMEs), across Europe. Highlighting the interconnection between regulation and competitiveness, Persson pointed out that excessive bureaucracy hinders business growth.
He referenced the Draghi and Letta reports, which focus on competitiveness and the Single Market, as part of the solution to address these challenges. Persson stressed the importance of Europe investing in the future to avoid falling behind, drawing a comparison with the growth experienced in the United States over the past three decades.
Persson further commented on the necessity for urgent action to simplify regulatory processes within the EU, emphasizing the discrepancy between business needs and political processes. He noted that businesses are currently spending as much on regulatory compliance as they are on innovation, which is unsustainable.
Discussing expectations for the Cyprus Presidency, Persson expressed optimism about its potential impact. He emphasized the importance of initiatives like ‘omnibus,’ designed to facilitate business operations within Europe. Persson also highlighted smaller initiatives, such as the e-posting of workers, which could play a crucial role during the Presidency.
Comparing the EU with the US, Persson pointed out the disparity in intra-trade levels, advocating for enhanced trade within Europe. He emphasized the significance of Cyprus, as a small but ambitious country, in contributing to this effort.
Regarding expectations for tangible results by July, Persson affirmed that European businesses are ready to support and collaborate with Cyprus’ Presidency to achieve impactful outcomes. He outlined BusinessEurope’s priorities, including simplification, strengthening the Single Market, and addressing workforce challenges.
Persson also addressed high energy costs and the need for a balanced approach in trade relations, particularly with key partners like the US and China. He highlighted the importance of diversifying trade agreements to reduce dependency and foster competitiveness.
In conclusion, Persson expressed confidence in the success of Cyprus’ EU Presidency, emphasizing the crucial role of collaboration with business partners like OEB in achieving meaningful progress.