Nicosia: Cyprus’ Minister of Labour and Social Insurance, Yiannis Panayiotou, reaffirmed the country’s firm commitment to the principles of the International Labour Organization during his address at the 113th General Conference of the ILO in Geneva, Switzerland. The Minister emphasized Cyprus’ dedication to fostering tripartite social cooperation among workers, employers, and the state to bolster social dialogue, economic development, and social cohesion, especially under the upcoming Cyprus Presidency of the Council of the European Union.
According to Cyprus News Agency, Panayiotou reiterated Cyprus’ support for initiatives that promote social justice and democratic values within the labor sector. He highlighted the crucial link between quality employment, recognized labor rights, and robust economic growth, underscoring the government’s political will to create conditions for full employment and adequate wages.
The Minister pointed out the positive trajectory of the Cypriot labor market in recent years, noting an employment increase of 80% and a reduction in unemployment to less than 5%. Cyprus is leading the EU in unemployment reduction, with youth unemployment at its lowest in decades.
Panayiotou also mentioned that recent pay raises have outpaced cost-of-living increases and highlighted the importance of participation in training programs focused on green and digital skills. He reiterated Cyprus’ intent to collaborate closely with the ILO during its EU Council Presidency to enhance social cooperation and cohesion.