Economic Interdependence

Project Summary

 

Launched in 2009, the Economic Interdependence Project is being implemented in partnership between the Cyprus Chamber of Commerce and Industry and the Turkish Cypriot Chamber of Commerce and aims to foster and nurture economic interdependence between the two communities through a variety of interventions. These include research, the support of joint business partnerships and raising public awareness of the benefits of economic cooperation.

The project focuses on demonstrating the economic benefits businesses and ordinary citizens stand to gain by working and co-coordinating with the other community. The strength of this initiative lies in its research which examines the existing state of islandwide business interactions, and the potential to expand these efforts, while also succeeding at the policy level to share the joint achievements of the Chambers with the relevant Technical Committee.

Accomplishments

 

  • Launch of the first island-wide Business Directory, listing over 200 business from both the Greek Cypriot and Turkish Cypriot interested in trading with each other (www.cpnnet.net)
  • Market Research Grants awarded to 26 companies across the island helping them to capitalise on intra-island business opportunities.
  • Green Line Trade Seminars throughout the island, helping hundreds of businesses get a much clearer understanding of the process.
  • Business Partnership Grants awarded to 5 consortia supporting the establishment of bicommunal business partnerships across a number of sectors
  • Economic research identifying the current extent of economic interdependence between the two communities and suggesting a framework for a Joint Economic Development Strategy
  • Extensive media coverage and promotion of the economic benefits of a solution to the wider public, in particular through the “Nine O’C lock News” film. 
  • Facilitation of a mechanism for the GCC to buy electricity from the TCC* following the explosion in July 2011 of the main power station in the GCC**.
  • Support to the implementation of confidence-building measures of the Economics Technical Committee

 *TCC - Turkish Cypriot Community  **GCC - Greek Cypriot Community

Donors



Donors Amount Period
USAID 1,187,268 EUROS 2009 - 2011
USAID 340,000 EUROS 2012 - 2013

Delivery

Delivery 2011 1,241,896 EUROS
Delivery 2013 217,845 EUROS