Turkish Cypriot 
Chamber of Commerce

Brussels Representation Newsletter

Issue 24, November 17, 2016


Toros Speaks at the Economist Event

12th Cyprus Summit entitled “ Europe in peril, Cyprus in play”, organized by the Economist, took place at Hilton Park Hotel in Nicosia, on the 1st of November, 2016.  During the full day event which hosted a series of panel discussions, the migrant and security crisis in the EU as well as the prospects of a solution to the Cyprus problem in the coming months were put under the spotlight. The event welcomed prominent speakers, His Excellency Mr. Nicos Anastasiades, the Greek Cypriot leader, and Guy Verfhostadt, Chairman of the Group of the Alliance of Liberals and Democrats for Europe in the European Parliament and former prime minister of Belgium, among others.

During the final panel discussion of the event, which took place with the participation of the Presidents of the two Chambers of Commerce in Cyprus  and Mr. Espen Barth Eide, Special adviser to the United Nations Secretary-General on Cyprus, the perspective of the business communities on reaching to a sustainable comprehensive settlement in Cyprus was discussed. For the full text of the speech delivered by Fikri Toros, the President of the Turkish Cypriot Chamber of Commerce, please click here.

ESBA holds its September Board Meeting in North Cyprus

European Small Business Alliance (ESBA) held its final board meeting of 2016, on the 23rd of September, 2016 in Kyrenia, North Cyprus. Ahead of ESBA board meeting, a panel discussion entitled “EU harmonisation process of the TC economy and the economic benefits in a reunified Cyprus” was organised with an aim to inform ESBA board members about the economic situation in North Cyprus, state of play with regard to the EU harmonisation process of the Turkish Cypriot Community, as well as the economic benefits that a reunified Cyprus would bring. The panelists were Mr. Fikri Toros, KTTO President, Mr. Mustafa Besim, Professor of economics at the Eastern Mediterranean University, and Ms. Fiona Mullen, director of Sapienta economics.
Due to the economic restrictions coupled with the implications of the suspension of the  EU acquis in North Cyprus, the Turkish Cypriot economy and businesses are far behind operating and competing in the Single Market” Toros emphasized. “As we are facing an unprecedented situation, customed-tailored efforts need to be put forward and measures need to be taken by the EU with the support and cooperation of all the stakeholders, to make the EU integration process of our economy and businesses a success.  This is a challenging process which needs to be handled starting from now, prior to the comprehensive settlement” he said. READ MORE

Friedrich Ebert Stiftung's report on Youth Unemployment in Cyprus

The Friedrich Ebert Stiftung’s report entitled “ Youth Unemployment in Cyprus- An Examination of the Lost Generation” was presented by its authors Sertaç Sonan and Gregoris Ioannou at a panel discussion which was held at the University of Nicosia, Nicosia, on 21st of October 2016, with the participation of the stakeholders across the divide. The comprehensive report analyses the current labour market conditions in both sides of the divide, identifies causes and risks of youth unemployment, evaluates the steps taken to alleviate the problem and presents some important policy recommendations. KTTO Board Member Mustafa Erk  was among the discussants at the panel, representing the employers in the North. READ MORE  


The European Commission adopts its annual report on the implementation of the Green Line Regulation
In 2015, the annual trade volume remained at around 3.6 million Euros, far away from contributing to create economic interdependence between the two Communities on the island.  Plastic products was the most traded item, followed by fresh fish, building materials/articles of stone.
Following the European Commission’s 12th annual report  on the implementation of the Green Line Regulation, covering the period of 1 January-31 December 2015, KTTO President Fikri Toros said that the report reflected the Chamber's concerns with regard to the low levels of intra-island trade volume and shared the Commission’s view that removal of the persisting obstacles to trade would significantly contribute to increasing the trade volume across the Line. “We urge the Greek Cypriot authorities to cooperate for the resolution of the long standing issues such as crossing of commercial vehicles and processed food across the Green Line without any further delay and respond positively to the efforts put forward by the European Commission for that purpose” he stated. “Allowing the commercial vehicles and the processed food to cross as well as lifting the prohibition on the trade of animals and animal products across the Line, as long as they comply with EU rules and standards, would definitely contribute to increasing the trade volume.” he added. “Encouraging trade can only have a positive effect on bringing the two communities together via enhanced economic cooperation and contribute to the objective of reunification.” he concluded. READ MORE

Cyprus talks at a critical juncture -
Cypriot leaders to reconvene in Switzerland to pave the way for the final phase of talks

The Turkish Cypriot leader,  His Excellency Mr. Mustafa Akıncı and the Greek Cypriot leader, His Excellency Mr. Nicos Anastasiades are set to reconvene in Switzerland on the 20th of November, 2016, aiming to pave the way for the final phase of talks with the participation of the guarantor powers. The goal is to reach a comprehensive settlement by the end of 2016. The United Nations led comprehensive settlement talks in Cyprus, which have resumed 18 months ago, entered into a new phase with the engagement of the two leaders into intense negotiations last week, 7-11 November at Mont Pelerin, Switzerland.
“It is encouraging to see the continuing commitment showed by the two leaders to finalize the process by the end of 2016 and finally overcome the division of the island” Fikri Toros said, commenting on the developments. “After 53 years of separation, we are not under the illusion that it will be easy.. However, we expect all parties involved to show the necessary courage and political will in order to make the necessary compromises to renuite the island. We owe it to future generations” he stated.  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


Copyright © 2016 Turkish Cypriot Chamber of Commerce (KTTO) Brussels Representation, All rights reserved.
You are receiving this email because you are interested in the economic development of Northern Cyprus.

Our mailing address is:

Turkish Cypriot Chamber of Commerce (KTTO) Brussels Representation
Avenue des Arts, 19 A/D

Brussels 1000