Cyprus is on board for the earlier transposition of the late payment directive. Asked in a meeting in Nicosia, Cyprus by ALDE member Cristian BUSOI, the Cypriot Minister of Commerce and Industry, Neoklis SYLIKIOTIS, said that the transposition process is almost completed. This is good news for SMEs in Cyprus. Thus one more EU member speeds up on late payments, a target which the ALDE group is advocating for in its campaign “Boost SMEs”.

The late payment directive is designed to combat the late payment for goods or services within the European Union. The EU member states have time until January 2013 to transpose the directive. But as late payments pose a major problem for smaller businesses, ALDE urges the member states to transpose the directive as soon as possible. Every day of earlier implementation counts for SMEs.