Deputy Minister of Research Nicodemos Damianou this week emphasised the crucial importance of space technology for securing Europe’s economic future, its strategic independence, and its role on the global stage.

The minister was in Brussels on Thursday, attending a gathering of the Space Council. During a discussion on the impending European Space Law, which is still waiting for a proposal from the European Commission, Damianou highlighted the necessity for this new legislation to provide stability for business ventures by ensuring legal certainty and predictability.

“The legislation must stick to the principle of proportionality and align with the internationally accepted framework to avoid causing a global split,” he said.

Damianou also referred to Cyprus’ national space legislation, adopted last October, which includes provisions for the approval, supervision, and registration of national space activities.

He warned against excessive regulation and advocated for a law that not only supports the sector but also includes specific provisions that benefit small and medium-sized enterprises (SMEs), making it easier for space companies to comply and fostering healthy competition.

In addition, he pushed for the European Commission to speed up the proposal submission process.

The meeting also involved a joint session with the European Space Agency, focusing on bolstering Europe’s competitiveness in the space sector. Damianou stressed the importance of increasing investments in innovative and commercially oriented space companies.

He further pointed out the promising advancements in quantum technology and artificial intelligence by integrating them into space technologies and services.

“The private sector’s role is crucial, and it’s essential to encourage startup participation,” Damianou said, emphasising the importance of initiatives that promote the adoption of space technologies across different industries.

Moreover, he touched on the need for investments in advanced tools that utilize data derived from space technologies and services.

“Fostering cooperation between the space sector and other industries not currently leveraging space’s potential could lead to innovative solutions that enhance efficiency, reduce costs, and spur overall economic growth”, he concluded.