Maintaining a stable and secure environment in the Eastern Mediterranean remains of the utmost strategic importance, President Nikos Christodoulides said Thursday, addressing the 2nd European Political Community Summit taking place in Chisinau, Moldova.
An announcement by the Presidency says that in his intervention at a round table discussion on energy and connectivity, the President noted that the adoption of a strategic approach is required so that the energy market is ready to move forward in the clean energy era. He also said that we need to invest in energy infrastructure.
In his intervention, the President also said that in order to accelerate the development of renewable energy sources in Europe, specific challenges should be addressed, such as the implementation of the necessary electrical interconnections for the uninterrupted flow of electricity especially from areas with extensive renewable energy sources and simplifying procedures having also in mind the environmental concerns.
President Christodoulides pointed out that speeding up procedures is an incentive for investors since the bureaucracy is a major obstacle for the set-up of large-scale and cross-border projects.
He also emphasized that cooperation is the key to success, noting that the Eastern Mediterranean can be the model.