Turkish Cypriot
Chamber of Commerce

Brussels Representation Newsletter

ISSUE 11, 16 April 2014


EU Enlargement Commissioner Füle visits Cyprus

Following the resumption of comprehensive settlement talks in Cyprus on February 2014, EU Commissioner for Enlargement and European Neighbourhood Policy Stefan Füle paid a two-day visit to Cyprus during 7-8 April 2014, to underline the enhanced support of the European Commission to the settlement process on the island. During his visit, Commissioner Füle met leaders and representatives of political parties from both communities as well as the representatives of business community from both sides. At the end of his visit, he also participated to the inauguration of the new bi-communal Nicosia wastewater treatment plant, which was partly funded by the EU.

Commenting on Commissioner Füle’s visit to Cyprus, KTTO President Fikri Toros said
“KTTO welcomes the readiness of the EU Commission to support the negotiation process and to step up its efforts to help the Turkish Cypriot Community to prepare for the implementation of the acquis”. “Our Chamber shares the same views with the Commissioner Füle on the important role of the civil society for the successful outcome of the negotiations. KTTO is committed to play its part and to actively support the process by cooperating with all the relevant stakeholders”. “We are experiencing historical times and all stakeholders must work together to contribute to the economic development of the Turkish Cypriots in the most practical way possible. This would allow the Turkish Cypriot Community to catch up with the European standards, re-structure our economy along competitive lines and contribute to the peace process on the island. We cannot risk being unprepared for a political settlement and EU membership”, Toros concluded. 

Toros Elected as the New President of KTTO

On March 24, 2014, the Turkish Cypriot Chamber of Commerce (KTTO) elected its new President and the new Executive Board for the term 2014-2016. As the only candidate for the position, Fikri Toros was elected unanimously by the members of the Assembly and became the sixteenth President of the Chamber, replacing Günay Çerkez. The newly elected members of the Executive Board are: Fikri Toros (President), Vargýn Varer (Vice President), Selen Necat, Salih Çeliker, Serhan Kaner, Mustafa Erk, Mustafa Genç and Aziz Limasollu.


KTTO participates in Cruise Shipping Miami Fair 2014

Upon the invitation of the Ýzmir Chamber of Commerce (IZTO), the Turkish Cypriot Chamber of Commerce (KTTO) attended the major international fair of the cruise sector "Cruise Shipping Miami 2014" which was held during 10-13 March 2014, in Miami, USA. Alongside the fair, KTTO representative Seran Tahiroglu also attended to the business meetings held at the Norwegian, and Carnival headquarters with Ekrem Demirtaþ, the president of the Izmir Chamber of Commerce, and had the opportunity to present and promote North Cyprus as a cruise tourism destination.

Rinaldi publishes its paper on Cyprus “direct trade regulation” 

On 13 March 2014, MEP Niccolo Rinaldi, member of the International Trade Committee (INTA) of the European Parliament and the rapporteur of the “Direct trade regulation”, published a working document outlining the background to the issue and sharing his views on how to proceed. The Regulation, proposed by the European Commission in 2004, aims to establish a preferential trade regime between North Cyprus and the EU Customs Territory, in order implement the European Council`s decision to put an end to the isolation of the Turkish Cypriot Community and to facilitate the reunification of Cyprus by encouraging the economic development of North Cyprus.  However, due to the opposition of the “Republic of Cyprus” to the Regulation and the deadlock between the institutions as to how to treat the issue, no progress has been made since 2004.  


Economic benefits of a Cyprus solution discussed at PRIO Conference in Brussels

The Peace Research Institute of Oslo (PRIO) Cyprus Centre organized a two-day conference on 6-7 March 2014 in Brussels on its report entitled "Cyprus' Peace Dividend: A Productivity and Sectoral Approach". The report authored by the economists Fiona Mullen, Mustafa Besim and Alex Apostolides aimed to quantify the economic prospects of a solution to the Cyprus problem by evaluating how some economic sectors may benefit from the comprehensive settlement. The business representatives and experts from both sides of the island assessed the initial findings of the report at the sector by sector discussion sessions. Tourism, construction, banking and, oil and gas were among the sectors being evaluated. The report is to be published in the coming weeks.

About Us

Established in 1958, the Turkish Cypriot Chamber of Commerce (KTTO) is an internationally-recognized organization, representing the Turkish Cypriot business community at home and abroad.  READ MORE

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