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TRNC seeks investors despite weak lira

10 September 2015

The Minister of Economy, Industry and Commerce Sunat Atun (l), met with a delegation from the Turkish Cypriot Chamber of Commerce (KTSO), headed by its chairman Fikri Toros (r).

Speaking prior to the meeting, Atun highlighted the need to improve the country’s climate for investment and to encourage the use of the Turkish Lira against the rise in the foreign exchange rate.

Also speaking, Toros said they would be discussing with Atun urgent measures needed to be taken in the country.

Pointing out that the country is heading towards a new period, Toros stated that they will discuss with Atun the ‘Turkey-TRNC economic program’, the negotiations process and the EU harmonisation process which is expected to start soon.

Stating that they would also be presenting Atun the ‘North Cyprus project in the peace process’ which had been prepared by the chamber. Toros explained that the project includes issues such how competitiveness with South Cyprus could be achieved, how economic growth in the country can be achieved and how this will bring prosperity to the people once a solution is reached.

For his part, Atun stated further that they are working hard to improve the climate for investments in the country.

Explaining that the ‘Turkey-TRNC investment council’ was established with the aim of attracting investors, he said that the common goal is to make the economy more productive.

“What is important is to have a sustainable road map. The Turkish Cypriot Chamber of Commerce is our most important partner in this process”, Atun added.

Referring to the current economic recession, he said that the main reasons for this were the untimely statements being made about the property issue during the Cyprus negotiations, and the rise in the foreign exchange rate.

BRT

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