Christodoulides warns Middle East developments could hit EU competitiveness and economy

Nicosia, Cyprus. President Nikos Christodoulides warned European leaders that current developments in the Middle East will have direct effects on the EU’s competitiveness and economy. He spoke during a teleconference on Tuesday.

Teleconference ahead of March European Council

The leaders discussed their positions ahead of a scheduled debate on the EU’s competitiveness to be held at the European Council in Brussels in March.

Concerns over energy costs and supply chains

In his remarks, Christodoulides said the Iran war directly impacted the European market, citing increasing energy costs, difficulties in guaranteeing the functioning of supply chains, and effects on the wider region.

Call for coordinated EU policies

Christodoulides said developments in the Middle East required the EU to proceed with coordinated policies to strengthen European energy security, the competitiveness of the European market, and the EU’s strategic resilience.

Additional issues discussed

Other topics on the agenda included energy prices, further deepening of the single market, and reducing administrative and bureaucratic procedures for businesses.

Conveners and previous meeting

The teleconference was convened by German Chancellor Friedrich Merz, Italian Prime Minister Giorgia Meloni and Belgian Prime Minister Bart de Wever. It followed a meeting held before the informal European Council at Alden Biesen, Belgium in February.

How should the EU balance energy security and competitiveness amid developments in the Middle East?