KEVE-KTTO to launch roadshow
Greek Cypriot goods will be able to be sold into northern Cyprus within days, following a decision by the Turkish Cypriot authorities last week (before the election) to allow reciprocal trade across the Green Line.
Since the EU Green Line regulation–which allows a range of specified goods to cross from northern Cyprus into the south–came into force last August, both Greek Cypriot and Turkish Cypriot business people have been pushing for the authorities in the north to allow similar trading northwards.
The decision will come into force as soon as it is published in the Turkish Cypriot official gazette.
Oia Barcin, who monitors Green Line trade at the Turkish Cypriot Chamber of Commerce, told the Financial Mirror that according to their information the type of goods allowed will follow the same principles as the Green Line regulation.
This implies, inter alia, trade in citrus fruits and goods manufactured on the island under WTO rules of origin.
“Similar accompanying documents from the Cyprus Chamber of Commerce will be required,” she said.
However, she also added that since the Turkish Cypriot authorities will treat the goods as import, VAT will be payable on certain items.
“From the point of view of the authorities in north it could not do a different procedure,” she said.
KEVE-KTTO to launch roadshow
Meanwhile, the Cyprus Chamber of Commerce (KEVE) and the Turkish Cypriot Chamber of Commerce (KTTO) are launching a roadshow to match buyers and sellers.
“We are planning to organise meetings for interested parties. The first will take place in Limassol, probably in May, but we are still at the planning stage,” KEVE Secretary-General Panayiotis Loizides told the Financial Mirror.
After Limassol, the chambers plan to go to Nicosia, Larnaca and finally Paphos.
KEVE is also studying questions from the KTTO over difficulties they are facing with respect to VAT.
Trade across the Green Line is reported to have reached only about CYP 500,000 since August.
Barcin said that there had been a pick-up in trade in April, but it is unlikely to exceed CYP 100,000.
Fiona Mullen
