New protocol will bring outside investments to TRNC

The leaders of several economic organisations in North Cyprus are asking for radical steps and urgent measures to be taken by the newly established coalition government, as regards the economy.

Chairman of the Turkish Cypriot Chamber of Trade (KTTO) Fikri Toros along with the head of the Turkish Cypriot Chamber of Industry (KTSO) Ali Cirali have called on the government to sign the economic protocol as soon as possible, in order to attract investors into the country.

Toros stated that the government should negotiate with Turkey, bearing in mind the reservations of several NGO organisations and also the benefits for the Turkish Cypriots, and sign the economic protocol, as a matter of urgency.

He stressed also the need for the new government to follow policies focused on the development of the TRNC’s economy and policies that aim to improve the level of welfare for the Turkish Cypriot community.

Toros added that the KTTO is ready to cooperate with the government in all fields.

Ali Cirali said that he did not expect a great deal from the newly established coalition government. However, he said that the first step that the new government should make is to go to Turkey and sign the economic protocol, since that is the only way for money to flow into the market, he argued.

On his part, Huseyin Aktig, chairman of the Turkish Cypriot hotelier’s union, called on the government to put the establishment of a tourism organisation high up on its priorities list. Radical reforms are essential for the tourism sector, he said.


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