Union of Chambers and Commodity Exchanges of Turkey

Reminding that the Nicosia Economic Forum was established in 2014, the TOBB President said that the Forum was an important platform for emphasizing the support of the business world towards the solution negotiations on the island.

The introductory meeting of the Turkey - Turkish Cypriot Chamber of Commerce Forum founded by TOBB and Turkish Cypriot Chamber of Commerce was held at the TOBB Twin Towers. At the opening of the meeting, Trade Minister Ruhsar Pekcan, TRNC Economy and Energy Minister Özdil Nami, TOBB President Rifat Hisarcıklıoğlu, TRNC Chamber of Commerce President Turgay Deniz, Turkey-TRNC Chamber of Commerce Forum TRNC Wing President Mustafa Young and Turkey-TRNC Chamber of Commerce Forum Turkey Wing President M. Cihat Lokmanoğlu gave speeches.

In his speech, TOBB President Hisarcıklıoğlu said, “As the Turkish business world, we want to make more investments in the TRNC and to achieve increased mutual trade.”

Hisarcıklıoğlu stated that the foundation of the chamber was a visionary step. Stating that Turkish Cypriot Chamber of Commerce is the symbol of the struggle of the people of the TRNC, Hisarcıklıoğlu stressed that TOBB always attaches importance to developing relations with the organization.

Hisarcıklıoğlu, stressing that they will always act together with the Turkish Cypriot Chamber of Commerce in overcoming the unjust isolation of the Turkish Cypriot people, said, “Economic and commercial relations between Turkey and the TRNC are extremely important for our business community. Economy, trade, tourism, education, of course, very important to our mutual bilateral relations. They are the fraternal bonds between Turkey and the TRNC.”

Pointing out that they have maintained strong relations with the Turkish Cypriot Chamber of Industry, Hisarcıklıoğlu stated that they want the Turkish Cypriots to prosper as the business community.

Hisarcıklıoğlu pointed out the importance of reforms for the TRNC economy and said, “We will continue to stand by Turkish Cypriots. We will continue to support the fair and permanent solution process in the TRNC.”

Stating that foreign direct investments are of great importance for economic development, Hisarcıklıoğlu said that countries are competing with each other and making arrangements for attracting direct investments.

Hisarcıklıoğlu reminded that a model was proposed to the government of the Turkish Republic of Northern Cyprus as TOBB and TRNC business community in 2011 and the Investment Advisory Council was established.

Emphasizing that tourism and education sectors are important for the economy of TRNC, Hisarcıklıoğlu continued:

“We want the development of TRNC agriculture and industry as well as the Turkish Cypriot entrepreneurs to increase their production. As TOBB, we will continue to support the development of the production capacity of the TRNC economy. As the Turkish business world, we want to invest more in TRNC and increase our bilateral trade relations. We want TRNC to be an island of prosperity and stability in the Eastern Mediterranean.”

- Minister of Trade Ruhsar Pekcan

Ruhsar Pekcan, Minister of Commerce, stated that Türk Eximbank also provided export credit support to the companies located in the Turkish Republic of Northern Cyprus (TRNC), “We wish companies in TRNC to benefit from these opportunities.”

Pekcan stressed that they will continue to support TRNC in sub- and super-structure projects, tourism and education among many other fields and said, “We are working to add more power to the commercial and economic relations which draw their strength from the brotherhood and culture of our countries, and will continue to do so. We are aware of the importance of our trade and investment partnerships in enhancing the welfare of the Turkish Cypriots. In order to increase these partnerships, our NGOs have important duties.

Stating that they give every support to ensure that all TRNC products encounter the least issue in being imported by Turkey, Pekcan underlined that Cypriot products will continue to be treated as products manufactured in Turkey.

Pekcan reported that the issue regarding cargo declarations in transport from TRNC to Turkey as per request.said:

“Our efforts to resolve the issue in regards to goods which arrive from third countries to Turkey and which are then exported to Cyprus are still underway. At the base of all our efforts lies our belief in the prosperous future of Cypriot Turks despite the unjust trade embargoes imposed upon them. Our cooperation does not end there. We have also signed a protocol for regarding the protection of consumer rights. Turkey Tradesmen and Craftsmen Credit Guarantee Cooperatives Unions with Cyprus Turkish Tradesmen and Craftsmen Credit Guarantee Cooperatives have also signed a cooperation protocol. This protocol prepares necessary arrangements in order to enable Cyprus Turkish Tradesmen and Craftsmen Credit Guarantee Central Cooperative to become a partner for Turkey Tradesmen and Artisans Credit Guarantee Cooperatives Unions.”

- Minister of Economy and Energy of TRNC Özdil Nami

TRNC Economy and Energy Minister Özdil Nami emphasized the importance of the forum in terms of moving forward and improving trade relations between the TRNC and Turkey:

“According to 2017 data, TRNC is an economy with a gross national income of about 4 billion USD and a national income of 14,000 USD per capita. Our average annual growth is around 5%. Our goal is to increase our national income per person over 20,000 dollars in the next 10 years.”

Noting that in order to increase TRNC's economic activity to the desired level, a economy generating high added value is required, Özdil said, “The official currency of our country is the Turkish lira, so the fluctuations in the Turkish lira also affects us. Among measures we will take in this regard include arrangements where we can implement by negotiations with Turkey. Cooperation between Turkey and the TRNC should be increased in our to improve competitiveness of the Cyprus economy and investment environment; support domestic production and lower energy costs.”

- Turkey-TRNC Chamber of Commerce Forum Turkey Wing President Cihat Lokmanoğlu

- Turkey-TRNC Chamber of Commerce Forum Turkey Wing President Cihat Lokmanoğlu also said that the TRNC's most important trade partner is Turkey and that, through the bond of love between the two countries, trade and financial partnership relations are strengthened.

Lokmanoğlu stated that they want to invest more in TRNC, “Investment Advisory Council needs to continue. Let's make TRNC more attractive in terms of investments. Cyprus, especially after the water project from Turkey, can be extremely successful in agriculture and in terms of the agricultural industry. We also think that there are serious investment opportunities in the area.”

Lokmanoğlu appealed to Minister of Trade, Ruhsar Pekcan, “Please continue to support us and be open to requests.”

- Turkey-TRNC Turkish Cypriot Chamber of Commerce Forum TRNC Wing President Mustafa Genç

Turkey-TRNC Turkish Cypriot Chamber of Commerce Forum TRNC Wing President Mustafa Genç, stating that they want to work together, stressed that their continued goal is to ensure the existence of Turks in the TRNC.

“The experience, skills, technology among others are the kind of support we need from Turkey,” said Genç and that the Forum is a great opportunity to ensure this.

Genç noting that about 1.1 billion US dollars trade volume exists between the TRNC and Turkey, said, “Promoting the wider use Turkish lira will provide minimization of risk stemming from fluctuations in currency.”

Pointing to the need to increase the exports of the TRNC with Turkey, Genç urged that mechanisms of exports to third countries via Turkey need to be reevaluated and bureaucracy and costs be reduced.

- Turgay Deniz, President of the Cyprus Turkish Chamber of Commerce

The Turkish Cypriot Chamber of Commerce President Turgay Deniz reported that they are working to improve relations with Turkey, the Islamic world and the European Union, and that that one of their major supporters is TOBB.

unlimited, should be striking and non-tariff quota Deniz emphasized that economic relations between the TRNC and Turkey should be unfettered by quotas and tariffs and that is the target they are striving to achieve. Deniz emphasized that this would be an important gain for the development of the economy of the TRNC.

- Business luncheon

After the opening speeches, a business luncheon was hosted. Following the addresses of TOBB Board Member Cihat Lokmanoğlu Turkey-TRNC Chamber of Commerce Forum TRNC Wing President Mustafa Genç, TEPAV Director Prof. Dr. Güven Sak gave a presentation on “Turkey-TRNC Economic Relations.” Afterwards, the Forum's 2019 Action Plan Proposal was discussed.