Union of Chambers and Commodity Exchanges of Turkey

“Let’s bring more investment to Cyprus”


14.09.2017 / İstanbul



Hisarcıklıoğlu, TRNC President Akıncı asked for the continuation of the Investment Advisory Council mechanism and said, “Let's use the investment potential of Cyprus more. Let’s bring more investment to Cyprus. Cyprus, with a strong economy, will be much stronger in the solution negotiations.”​

TOBB and IKV organized the “Conference on the Future of Cyprus Negotiations and the Implications for Turkey” organized by TOBB and İKV with the participation of Turkish Cypriot leader Mustafa Akıncı, TOBB President M. Rifat Hisarcıklıoğlu, İKV President Ayhan Zeytinoğlu and Turkish Cypriot Chamber of Commerce President Fikri Toros.

TOBB President M. Rifat Hisarcıklıoğlu said that the Turkish Republic of Northern Cyprus is an important partner for Turkey in terms of trade, tourism, education and investments and said, “As much as we are partners, Cyprus is also quite precious for us. We have very strong historical, cultural and economic ties that link us to each other. We know that there is potential to further strengthen our economic ties.”

Hisarcıklıoğlu emphasized that Turkish business community wants Turkish Cypriots to prosper, “We are aware that the unfair isolation of the Turkish Cypriots has slowed down this process. But thanks to the hard work and resilience of the Turkish Cypriots, the prosperity process will continue. We are aware that the prosperity of the Turkish Cypriot people will contribute to the solution efforts. We also know the importance of economic reforms that will strengthen the North Cyprus economy and allow for more investment. At the same time, we see that the business world's support is of great significance for the solution process.”

- Two potential sectors for the Cyprus economy

Hisarcıklıoğlu stated that there is serious potential in the tourism sector for the Cyprus economy. “In this respect, I think that Turkey's experience in tourism would be important for the Turkish Republic of Northern Cyprus. In the 1980s, Turkey was not a tourism destination. It was a country visited by only 300,000 tourists a year. Özal, who was at the head of the government at the time, saw great potential in our country and supported tourism investments. Today, Turkey has become the 6th largest tourism destination in the world. Our businessmen who have realized this potential and invested in the sector have also benefited from it. They are among the prominent tourism companies in the world. I think it is possible to achieve a similar success in Northern Cyprus as well.”

Hisarcıklıoğlu emphasized that the education sector, in particular the Higher Education sector, also contributed significantly to the Cyprus economy and that they are pleased to follow developments in the TRNC education sector and that it could be an international educational island and attraction center.

- “We want to invest more in Cyprus”

Explaining that they are working together with the Turkish Cypriot Chamber of Commerce in many areas, the TOBB President said, “We are also cooperating on international platforms besides our joint work in Cyprus. EUROCHAMBRES, Islamic Chamber and Economic Cooperation Organization Chamber of Commerce and Industry. I’ve witnessed success of Mr. Toros representing the Turkish Cypriot business world. We will continue to work together.”

Stating that they want to invest more in Cyprus as the Turkish business community, Hisarcıklıoğlu said, “We want to have more bilateral trade. We support your solution efforts in Cyprus. We want Cyprus to be prosperous and an island of stability in the Eastern Mediterranean.”

- TRNC President Akıncı

The President of the Turkish Republic of Northern Cyprus (TRNC), Mustafa Akıncı, asked a question about the progress of the Immovable Properties Commission's work and reported the Commission has been implemented following the intervention, when Greek Cypriots were applying to the European Court of Human Rights (ECHR) which couldn’t cope with the number of applications.

Akıncı emphasized that the Commission is a “local remedy” in the sense that the ECHR told the Greek Cypriots, “If you do not get a satisfactory result there, then you can come to us.”

- Integration to Turkey

President Akıncı replied to the question on whether Cyprus integration to Turkey would be considered as a solution: “Neither options are on the agenda of Turkey Cypriots nor the Turkish Cypriots. We do not want to be a minority as a part of South Cyprus in the same way we do not want to be the 82nd province for Turkey and Turkey does not need the 82nd province. There is no need for new troubles on the political front. We do not need to talk about these things. We do, however, want and need to have a close and healthy relationship with Turkey. We have a great need to act with Turkey in the spirit of cooperation and solidarity in terms of politics and economy. We can see that this need will continue to persist.”

- “Injustices against the Turkish Cypriot people must end”

İKV Chairman Ayhan Zeytinoğlu stated that the Cyprus problem has been used as a tool to disrupt Turkey's EU process and said, “We will leave the 12th year behind us next month and this EU strategic failure is at the root of the fact that EU accession negotiations cannot progress at the desired speed. The opening of 14 of 35 chapters and the temporary closure of the whole are blocked by the EU Council and the Greek Cypriot Administration for the port issue.”

Fikri Toros, the chairman of the Turkish Cypriot Chamber of Commerce, said that civil and political institutions should be free from prejudice and act in the spirit of integrity for the social existence and prosperity of the Turkish Cypriot community to succeed.

Toros said that economy-oriented confidence-building policies in the island will have a positive impact on the settlement of the Cyprus problem; real and lasting security can be achieved through common interests and regional cooperation.

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