A group of business people and tradesmen who saw that the way to get their political rights was through economic development and uniting, decided to come together under a common structure. After the 1958 Zurich and London Agreements, a group of businesspeople in Nicosia called on other businesspeople in the island to have a meeting. The first meeting took place on 15 November 1958 at the Evkaf Department building and the Turkish Cypriot Chamber of Commerce was established. With the establishment of the Chamber, the National Turkish Cypriot community found freedom in terms of trade. In the first Board of Directors of the Chamber, Kemal Rustem was made the President, while Halid Dedezade, Ekrem Ferdi, A. M. Rasit, Huseyin Irfan abd Esat Ahmet were members. After the elections, the Board of Directors traveled throughout the island to find and register more members on the one hand and met with the British Administration for the formal recognition and registration of the Chamber on the other. Dr. Fazil Kucuk, the leader of the Turkish Cypriot community, and Rauf Denktas, the President of the Federation also start effective initiatives for the enlargement and recognition of the Chamber of Commerce. In March 1959, the Governor of the British Administration in Cyprus, Sir Hugh Food, in a meting with our leader Dr. Fazil Kucuk, while laying down some conditions had mentioned that recognition of the Chamber of Commerce might be possible. These unacceptable conditions were declined immediately both by our leader and Board of Directors. Continuous negotiations were carried out until 14 May 1959. On 14 May 1959, the President Kemal Rustem of the Turkish Cypriot Chamber of Commerce along with the Board of Directors sat for fierce negotiations with Mr. John Reddavay, the Chief Advisor of the Cyprus Administration. After hours of discussions, there was full agreement and the Turkish Cypriot Chamber of Commerce was officially established. In his first speech after the recognition and establishment of the Turkish Cypriot Chamber of Commerce by the local administration, the Chamber President Kemal Rustem said "A full agreement has been reached on the recognition of the Turkish Chamber of Commerce at a meeting at 09:30 this morning with Mr. John Reddavay, the Chief Advisor of the Cyprus Government. Although around 2 moths ago Governor Sir Hugh Foot has promised our leader that the Chamber would be recognized, we have faced a few important unacceptable points and the negotiations on these issues have taken place up until today. Just like the Zurich and London Agreements can be seen as a victory for the Turkish Community in the political arena, the news we are announcing here today can be seen as a victory in the economic and commercial arena. Our Chamber, which started functioning around 6 months ago, will continue to work for and protect the commercial and economic interests of the Turkish Community. In this respect, we have no doubts that it will play a major role in the improvement of the commercial and welfare levels of our community. I am very happy in announcing this glorious news to the Turkish Community and especially the Turkish businesspeople. Before I end my speech, I would like to point this out. Our well respected leader Dr. Fazil Kucuk, and the President of the Federation, Rauf Denktas have served and helped immensely in the recognition of the Turkish Chamber of Commerce. We are very grateful to them." The official establishment of the Turkish Cypriot Chamber of Commerce was announced in the Halkin Sesi newspaper dated 15 May 1959 (Friday). The Turkish Cypriot Chamber of Commerce that was established in 1958 and officially recognized on 14 May 1959 has been registered on 10 July 1959 in accordance with the laws of 1951 and 1959 and officially begun its activities. The Turkish Cypriot Chamber of Commerce later became the first Turkish organization to be internationally recognized through its membership at the International Chamber of Commerce. In the following years, the Chamber of Commerce became a member of the Islamic Chamber of Commerce- Industry and Commerce Stock Exchange, the EEC Permanent Conference of Chambers of Commerce and Industry, and the Federation of Commonwealth Chambers of Commerce. In the meantime, the Chamber of Commerce has formed the Turkish- Turkish Cypriot Common Chamber of Commerce along with the Turkish Union of Chambers of Commerce. The legislation on the Chamber of Commerce has been accepted by the Parliament of the Cyprus Turkish Federal State and entered into force on 12 May 1981. The Turkish Cypriot Chamber of Commerce, which had 20-25 members when it was first formed, now became the biggest mass organization in the TRNC with over 9000 registered members. The Chamber of Commerce started its activities in a two-room apartment on the Ankara Street, then moved to the building on Cengiz Han Street No 1 in Koskluciftlik. The construction of the building on Bedrettin Demirel Avenue was completed on 23 August 1985 and the Chamber has been continuing its activities in this building since.