House Commerce Committee appealed on Tuesday for the support of the small-medium enterprises, which have been hit after the island’s accession in the EU and Commerce Committee Chairman, Lefteris Christoforou stressed the need to deal with the problems that these companies have to avoid further deterioration. “The low cost and the improvement in the European products have made Cyprus companies the weakest link as far as competition and competitiveness are concerned. The Labour Ministry’s draft on retail trade will hit the small-medium companies and is not expected to solve the problems”, Mr. Christoforou said. “Our party’s position is to support the small-medium enterprises. Or else, two, three or four companies will control the entire production and trade of the island”, AKEL MP, Christos Mavrokordatos said.

Commerce and Industry Manager, Christos Loizides stated that Cyprus participates in the EU plans for the small-medium companies. It is a ten-chapter binding document for all EU countries.

Within the framework of boosting competitiveness and entrepreneurship in Cyprus, the government is currently preparing the necessary infrastructure.

State Aid Superintendent, Christos Andreou said that the European Union allows state benefits for the improvement of the companies and their participation in exhibitions, as well as the purchase of services by external directors.

“The EU regulations for the state benefits are interspersed with special provisions for small-medium enterprises”, he concluded.