Latest Headlines

Turkish franchises in TRNC preparing for Cyprus settlement

22 September 2016

The Turkish Cypriot Chamber of Trade (KTTO) and the Turkish Union of Chambers and Commodity Exchanges (TOBB) have prepared an action plan in order to enable Turkish companies and franchises in North Cyprus to be able to buy dealerships across the whole of Cyprus, in the event of a Cyprus settlement.

According to Turkish Cypriot daily ‘Kibris’, the representatives of Turkish firms operating in the TRNC, in cooperation with the Turkish Cypriot Chamber of Trade and TOBB, are continuing continue preparations for the action plan, in order not to lose out in the event of reunification.

The plan envisages that all protocols, signed so far between Turkish firms and their representatives in the TRNC will be revised, so that recognition will encompass the whole of Cyprus and not only the TRNC.

In a meeting which took place last March, TOBB asked all exporters and businesses which have branches and franchises in the TRNC, to amend the framework for implementing their protocols.

While this process is still ongoing, the paper writes that the final decision will be taken by Turkish exporters, businesses and their franchisers in the TRNC.

The paper writes also that the Turkish Cypriot Chamber of Trade and TOBB signed a protocol last February titled: “Action plan for the development of cooperation between Turkey and Turkish Cyprus’s business world and the development of the economy in general”.

Kibris

By