Cyprus Minister of Energy attends EU Competitiveness Council in Brussels

On September 24, 2026, the Minister of Energy, Commerce, and Industry of Cyprus, George Papanastasiou (referenced in sources as Michalis Damianou), arrived in Brussels to attend the EU Competitiveness Council (COMPET) meeting. The agenda centered on the European Chips Act and the ongoing revision of EU competition guidelines, currently being pushed by the Executive Vice-President of the European Commission, Teresa Ribera.

During the discussions, the Cypriot Minister emphasized the importance of ensuring that European companies have the necessary environment to invest, innovate, and grow. Regarding the European Chips Act, Damianou stated that while Cyprus supports the general initiative to strengthen the semiconductor industry, the European Union must remain open to collaborations with reliable international partners.

Furthermore, the Minister addressed the revision of merger control guidelines. He argued that while new, more predictable rules are necessary for business certainty, these regulations must account for the specific realities of smaller member states like Cyprus, which face different market conditions and competition dynamics compared to larger EU nations. The council is currently deliberating on how these revised guidelines can balance market stability with the unique needs of diverse member states.