About Us

The "Economic Interdependence" project is a UNDP-ACT funded project implemented by the Cyprus Chamber of Commerce & Industry and the Turkish Cypriot Chamber of Commerce. Following the successful completion of Economic Interdependence Phase I in September 2011, it is decided among the implementing partners as well as the donor to take the project to a new phase. 

The main aim of Economic Interdependence Phase II is to build up on the achievements of the previouse phase of the project in a sense that will contribute to the formalization and the sustainability of the relations between the two implementing Chambers as well as the business communities in both sides.

The overall strategy is to implement a series of public relations activities to increase awareness regarding the benefits of having closer economic ties between both business communities while establish the working mechanism between the Chambers as well as enhancing the project deliverables that were made during the previous phase.

These measures will lead to even more conducive environment for increased business relationships, whilst the mechanism established between the Chambers ensure the support and leading role in bi-communal business development even after the lifecycle of the project is completed. In addition, having a framework study for the structure of the ‘post-solution’ federal Chamber will enable both Chambers to be prepared for the ‘day after’.

 

General Overview

Following the Second World War, the Peoples of Western Europe soon realized that the only way to permanently avoid future conflict was to create such a level of economic interdependence that the only way ahead would be reconciliation. Thus were laid the seeds of European Unity. On a smaller scale, the same imperative applies in Cyprus, a small island whose economy can only benefit from increased intra-island business to business partnerships. Irrespective of whatever permanent solution emerges to finally address the Cyprus question its sustainability will require a large amount of economic convergence.

In Cyprus, the UNDP-ACT sponsored projects “Cyprus Producers’ Network” and “Corporate Environmental Responsibility Survey” revealed a significant gap in terms of knowledge by producers of consumer needs in the other community. In particular, although many Greek- Cypriot and Turkish-Cypriot businesspeople would like to trade with the other community, they have no idea what the needs of the other community are. In addition they face difficulties in locating the right/suitable business contacts in the other community as well as a number of other problems that hinder/make difficult the further (significant) expansion of business relations/cooperation between the two communities. There is also a number of other studies conducted in Cyprus that have produced similar results.

 

Expected Results

The "Economic Interdependence" project will contribute to reunification of Cyprus through an increase in intra-island trade/business cooperation and the enhancement of economic interdependence, encouraging cooperative planning to benefit the economy island-wide, creating more opportunities for partnerships, and helping the business communities in the Greek-Cypriot and the Turkish-Cypriot community to identify and understand new and existing interdependent economic relationships. In this direction, the "Economic Interdependence" project will capitalise on all relevant projects/studies/surveys that have been conducted to date but will also significantly build on them and undertake to implement a range of new activities/schemes/measures in order to achieve its objectives.