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Cyprus Prioritises Single Market Reform During EU Presidency Agenda

by THEFUTURE.TEAM

May 18, 2026

A Vision For A Stronger Single Market

Speaking at the “Shaping Europe’s Growth and Competitiveness” conference in Nicosia, Michalis Damianou outlined Cyprus’ commitment to strengthening the European Single Market as part of the country’s EU Presidency priorities. Amid growing geopolitical uncertainty, technological disruption and energy challenges, Damianou said Europe must move faster in coordinating reforms that reinforce competitiveness and economic resilience across the bloc.

Capitalising On Europe’s Competitive Advantages

Damianou argued that Europe continues benefiting from major structural strengths, including the world’s largest integrated market, advanced research capabilities and a highly skilled workforce. According to the minister, the focus has now shifted from discussing Europe’s potential to accelerating its ability to compete globally through targeted reforms, stronger coordination and more effective regulation.

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Legislative Reforms And Regulatory Modernisation

Reducing administrative burdens for businesses, particularly SMEs and scaling companies, remains a central part of Cyprus’ agenda. Damianou referenced initiatives including the European Commission’s “Terrible Ten” proposals and the planned “28th Regime,” both aimed at simplifying cross-border business activity and reducing regulatory fragmentation within the EU market. He stressed that the objective is not deregulation, but smarter regulation capable of supporting innovation while limiting unnecessary bureaucracy.

Driving Investment And Industrial Competitiveness

The minister also highlighted broader European efforts aimed at strengthening industrial competitiveness and accelerating investment. Proposals, including the European Competitiveness Fund and the European Industrial Accelerator, are expected to simplify access to funding, reduce delays and support decarbonisation across energy-intensive sectors. Damianou additionally linked energy policy directly to Europe’s economic security, arguing that affordable and sustainable energy remains critical for maintaining industrial competitiveness globally.

Cyprus As A Regional Bridge

Cyprus’ geographic position between Europe, the Middle East and Asia also places the country in a strategic role for regional cooperation and market connectivity. During his remarks, Damianou described Cyprus as a bridge for innovation, investment and collaboration, while reaffirming support for reforms intended to strengthen Europe’s long-term resilience, competitiveness and strategic autonomy.

A Broader Call For European Competitiveness

Closing his address, the minister said competitiveness extends beyond economic performance and remains closely tied to Europe’s long-term stability and quality of life. He called for greater speed, ambition and unity across the EU as member states continue responding to an increasingly competitive global environment.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.