European business leaders are in Nicosia today and tomorrow for BusinessEurope’s Council of Presidents (CoPres), hosted by the employers and industrialists federation (Oev), as Cyprus prepares for its EU Council Presidency in 2026.

The presidents of the European employers’ organisations will meet President Nikos Christodoulides this evening at the Presidential Palace, before attending an official dinner in his presence.

Their visit brings together 42 employer federations from 36 countries, marking one of the most high-level business gatherings held in Cyprus in recent years.

The CoPres summit continues on Friday at the Hilton Nicosia, where Christodoulides and European fisheries commissioner Costas Kadis are expected to join the discussions.

The agenda covers the priorities of the future Cyprus Presidency, the EU’s strategy for a sustainable, innovative and competitive economy, and broader international relations.

According to Oev president George Pantelides, the sessions will focus on issues central to Europe’s economic outlook. Among other points, the presidents will examine ways to reduce bureaucracy, enhance competitiveness and bring down energy costs, with excessive regulation described as “one of the most important inhibiting factors” for the EU.

As a result, measures to simplify procedures, cut unnecessary rules and harmonise legislation across member states will be assessed to support smoother business activity.

Shipping, a pillar of both the European and Cypriot economies, will also be on the table.

Discussions are expected to cover geopolitical instability, the restructuring of global transport networks and the demands of the green transition, including the drive for zero emissions and the pressure on companies to adopt new technologies.

Cyprus is represented by Oev, whose president, Pantelides, also serves as a vice-president of BusinessEurope. The organisation is headed by its president, Sweden’s Fredrik Persson.