Permanent Secretary of the Ministry of Energy, Commerce and Industry, Marios Panayides, participated Thursday in the deliberations of the Competitiveness Council of the EU that took place in Luxembourg.
According to a press release, discussions focused on the proposed regulation for establishing a framework of measures to strengthen the European semiconductor ecosystem – also known as the European Chips Act – which aims to ensure security of supply, as well as to ensure resilience and technological leadership of the EU in the field of applications and semiconductor technologies.
During the discussion, the EU 27 highlighted the importance of unhindered supply of semiconductors for a wide range of industries, including strategic activities, such as the automotive industry and medical care.
Taking the floor, Panayides welcomed the Proposal for a Regulation and stressed that Cyprus is in favor of coordinated European actions to address the difficulties the EU is faced with. He also said that this initiative should be available to the benefit of all all-EU states and companies, regardless of size and geographical location.
Meanwhile, during a working lunch, the EU27 exchanged views on strengthening the single market in the context of the green transition.
In his intervention, the Permanent Secretary said that Cyprus is in favor of all efforts to strengthen the single market, with emphasis on the standardization strategy and securing financing for small and medium-sized enterprises.
On Thursday, the Council deliberated on internal market and industry issues. Research and space issues will be discussed on Friday. The meeting was chaired by Agnès Pannier-Runacher, French Minister responsible for industry.
Source: Cyprus News Agency