The Cyprus Chamber of Commerce and Industry (CCCI) and the Turkish Cypriot Chamber of Commerce (KTTO) organized the signing ceremony of the bi-communal business partnerships grants aimed at supporting bi-communal business partnerships. In the framework of the “ECONOMIC INTERDEPENDENCE” project, supported by UNDP-ACT and sponsored by USAID, subsidies amounting to €174,493 were awarded to five successful consortia consisting of Greek Cypriot and Turkish Cypriot partners.

The President of KTTO, Mr. Gunay Cerkez, stated that this type of business cooperation is the basis for a sustainable solution to the Cyprus Question, and that it was a way of overcoming the financial crisis. “It’s not about competing for a piece of the pie, but making the pie larger for everyone to benefit”, he stated.

The President of KEBE, Mr. Manthos Mavrommatis, mentioned in turn that the Interdependence bi-communal business partnerships grant programme is a pioneering programme, which will pave the way for a more collaborative business environment across the island. He also added that the successful collaboration between businesses in the two communities will improve their competitiveness in the Mediterranean region and beyond. “During these times of turmoil in the region, it is even more important for Cyprus to become an example of cooperation and interdependence between businesses from both communities”, he stated.

The winning proposals will work across a range of business sectors. There will be two bi-communal radio stations, one will be broadcasting the same content in both communities, while the other one will be a mobile bilingual bi-communal radio station. Another interesting bi-communal partnership will conduct yearly hearing testing in the workplace in both communities and keep permanent records in the form of a hearing database for each company, for comparison of repeated measures. Two research companies from the GC and the TC communities will enhance their existing partnership through an upgrading of their technological capabilities which would allow them to integrate their IT infrastructures and work as one. And, finally, the island-wide production and distribution of traditional Cypriot lace will be facilitated through one of the grants.

The bi-communal business partnerships grant programme is part of of the ECONOMIC INTERDEPENDENCE project, which aims to promote economic interdependence between the Greek Cypriot and the Turkish Cypriot communities and contribute to the business and economic relations between the two communities.

For more information please contact the Cyprus Chamber of Commerce and Industry, c/o Mrs Demetra Palaonda ([email protected], tel. 22889840).