New US Ambassador to Cyprus John Breslow on Wednesday highlighted his business credentials to point out the “real opportunity” to increase prosperity for America and Cyprus through trade and investment.
Speaking at the Cyprus Forum, the first political appointee to Cyprus since the 1980s said: “I believe American companies and American technology can be a powerful growth partner for Cyprus in energy, in security, and in innovation.”
He described Cyprus as an attractive place to invest but expressed concern about “unnecessary barriers” that could dissuade companies from making generational investments.
Cut red tape
“Together, we should work to optimise bureaucratic processes and cut red tape,” Breslow said, setting it as a high priority.
Simplified and streamlined processes provide transparency and predictability for investors and companies, he noted.
He called on Cyprus to keep making its markets “more hospitable to business”. In a clear swipe at Brussels, he called on Cyprus “to be brave and push back on regulations that impede innovation and the kind of risk-taking that help economies grow”.
The ambassador commended President Nikos Christodoulides for putting EU regulatory simplification on the agenda during Cyprus' EU Presidency.
Environmental regulations in crosshairs
“Many of these regulations have serious unintended consequences for prosperity both for the United States and Cyprus,” he said.
“These include EU methane regulations, the EU deforestation regulations, the carbon border adjustment mechanisms, and restrictions in the Industrial Accelerator Act and the multi-annual financial framework that harm partnerships with US industries,” he added.
Breslow bemoaned the length of time taken by bureaucrats to review important economic decisions, seeing it as a failure to match the pace of 21st century businesses.
Bilateral relations at peak
In his first address to the Cypriot public, the American diplomat was effusive in his praise of bilateral relations, noting that they are at an “all-time high”.
Breslow said he arrives to the island at possibly “the best period” in relations between the two countries, noting: “Many of our interests and goals are so closely aligned.”
Reunification
On the Cyprus issue, the US ambassador said: “Cypriots understand history perhaps better than the citizens of any nation I've encountered. This country has survived division and loss, only to emerge stronger, more prosperous, and carrying an enduring hope for a reunified future.”
He said the US continues to support a Cypriot-led, UN-facilitated bizonal, bicommunal federation with political equality, consistent with relevant UN Security Council resolutions.
