Turkish Cypriot
Chamber of Commerce

Brussels Representation Newsletter

ISSUE 9, 18 February 2014

Cyprus peace talks resume seeking to end the decades old Cyprus problem

The Turkish Cypriot and Greek Cypriot leaders relaunched the UN-brokered comprehensive settlement talks in Nicosia on 11 February 2014 after agreeing to a joint declaration outlining the basic principles that should govern a solution to be reached.
Following 18 months freeze, resumption of the negotiations aimed at a settlement of decades old Cyprus problem is welcomed by the international community. Besides the European Union, US, Turkey, UK and Germany are among the countries which issued statements expressing their satisfaction and support for the process urging the leaders to reach to a solution at the earliest possible time.

Commenting on the relaunch of the negotiations Günay Çerkez, President of KTTO, said “The Cyprus problem can no longer be left unresolved. The momentum created with the resumption of the talks should be seized by all parties involved. This time, we should not miss the opportunity of turning our country and the Eastern Mediterranean region into an area of peace, stability and economic prosperity.” READ MORE

"What if" promoted at a bi-communal event

 “What if”, a 10 minutes documentary movie aiming to create awareness on the economic benefits of a political settlement on the island, was promoted at a bi-communal event on 7 February 2014, at the "Chateau Status" in the UN buffer zone. At the event attended by business people from both communities, the Nobel prize winning Greek Cypriot economist Dr. George Pissarides, and the author of the "Competitiveness Reports on Turkish Cypriot Economy" Dr. Mustafa Besim of the Eastern Mediterranean University explained the prospects of a solution to both economies on the island.  A lot of interest by the diplomatic community was also noted.

The documentary is a recent initiative by the Turkish Cypriot Chamber of Commerce (KTTO) and by the Cyprus Chamber of Commerce and Industry (KEBE), which have taken the lead in preparing their respective communities for a comprehensive settlement on the island.



Intra-island trade volume continues to decline

Despite KTTO's efforts to maximize the trade opportunity across the Green Line, the overall trade volume continues to decline. According to KTTO statistics, in 2013 only 3.8 million Euros worth of goods were traded across the Line. While this is partly due to the Green Line Regulation’s limited scope of application and the economic crisis of the Greek Cypriot economy, the main challenge remains to be the political and psychological attitude of the Greek Cypriot Community against Turkish Cypriot products. READ MORE


Economic Associations Platform welcomes the resumption of talks in Cyprus and hopes for an early settlement of the Cyprus problem

Economic Associations Platform of North Cyprus where KTTO is currently holding the rotational presidency made a statement welcoming the agreement reached by the two Cypriot leaders on the joint declaration and the resumption of the negotiations in Cyprus.

“The resolution of the Cyprus problem without further delay will be a crucial step in revitalising the Eastern Mediterranean as a region of peace, stability and economic prosperity and will benefit everyone in the region.”

“As the basic principles setting out the framework for a solution are agreed with the joint declaration, we expect the two leaders to swiftly carry forward the negotiations and bring the decades old Cyprus problem to a successful end. We are ready to do our utmost to contribute to the process.” the members of the Platform stated. READ MORE


Representation of Turkish Cypriots in the European Parliament

The Economic Associations Platform of North Cyprus sent a letter to Mr. Martin Schulz, President of the European Parliament, sharing its concerns about a draft electoral law tabled by the Greek Cypriot government, which would allow those Turkish Cypriots who are in possession of “Republic of Cyprus” identity cards to vote in the EP elections. In its letter the Platform states that the draft law disregards the existence of the two political entities on the island and contradicts the 1960 Cyprus Constitution.

Outlining the negative implications of the draft law, the economic associations called on the European Parliament to find a solution to the representation of the Turkish Cypriots in the EP until a comprehensive settlement is reached on the island, trusting that the solution to be found will take into consideration the legitimate concerns of the Turkish Cypriots and respect the political realities on the island. READ MORE

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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