The new de minimis grant scheme for Cypriot businesses to participate in international trade fairs, where the Ministry of Energy, Commerce, and Industry is represented with a national pavilion, was approved by the Council of Ministers on Wednesday.

In statements, the Minister of Energy, Commerce, and Industry, Giorgos Papanastasiou, said the scheme has a budget of €1.5 million for 2025.

He noted that applications for the scheme are open to businesses as well as producer groups and organizations recognized by the competent authority, which are active in the sectors of processing and/or marketing industrial and agricultural products.

The grant for businesses that have not benefited from another grant scheme by the Ministry’s Trade Service in the past three years covers:

• 100% of the costs for renting the space, constructing and equipping the pavilion, participation fees, installation costs, and electricity and water consumption, as well as operating costs for the pavilion.

• Transportation costs, including shipping, customs clearance, delivery, and return of exhibits, up to €800 per exhibition for small-sized products and up to €4,000 per exhibition for bulky products.

For businesses that have received support from another grant scheme by the Ministry’s Trade Service in the past three years, the grant amounts are adjusted, offering the same coverage but with reduced amounts, the Minister added.

Regarding the e-basket platform, Mr. Papanastasiou stated that a test presentation would be conducted during the day for supermarkets and other stakeholders. Based on the results and feedback received, a decision will be made on whether a second, more open trial will take place, allowing broader public participation to gather further input on the platform's operation.

He also noted the possibility of deciding not to proceed with a second trial, depending on the feedback received during the initial presentation and how effectively the contractor can address the identified needs.