Although the volumes of bicommunal trade between registered companies in the Republic of Cyprus and Turkish Cypriot companies are still small, the ratio between them is, as expected, significant.

Companies registered in the Republic of Cyprus purchased products worth €15 million from companies in the occupied areas, while Turkish Cypriot companies bought products worth €1 million from companies in the free areas.

According to data published by Kibris and reported by the Press and Information Office, sales under the Green Line Regulation increased by €700,000 (5%) in 2023 compared to 2022.

It should be noted that the following data concern only sales from companies to companies and not products purchased by citizens up to €280 under the Green Line Regulation.

Specifically, sales from the occupied areas to the free areas amounted to €15,456,641 in 2023, compared to €14,765,462 in 2022, recording a 5% increase.

According to the Turkish Cypriot Chamber of Commerce (TCCC), the largest share of these sales comprises:

• Prefabricated Containers: 25%

• Building Materials: 24%

• Wooden Furniture: 19%

• Plastic Products: 15%

• Waste/Scrap Products: 5%

• Fish: 5%

• Mattresses: 4%

Speaking to Brief, Marios Tsiakkis, Secretary General of the Cyprus Chamber of Commerce and Industry (CCCI), initially noted that these figures are a "drop in the ocean" compared to the total trade and transactions of hundreds of millions of euros in Cyprus.

Asked about sales from Greek Cypriot companies to Turkish Cypriot companies, Mr. Tsiakkis said they amount to approximately €1 million annually, mainly involving plastic and paper packaging as well as construction materials.

Regarding the significant gap between purchases and sales, Mr. Tsiakkis explained that this is largely due to the prices prevailing in the free areas, as Turkish Cypriot companies cannot reclaim the 19% VAT they pay when purchasing from Greek Cypriot companies.

To increase bicommunal trade, the European Commission, in coordination with the CCCI and the Turkish Cypriot Chamber of Commerce, established the EU One Stop Shop in Cyprus.

This center, located near the CCCI offices, began operations on October 2, 2023, aiming to provide Greek Cypriot and Turkish Cypriot entrepreneurs involved in trade through the Green Line with information and expertise on commercial transactions.

As mentioned to Brief by the Secretary General of the CCCI, the one-stop shop has been assisting and supporting many entrepreneurs from its first day of operation. It is expected that the center will be evaluated by the European Commission in the coming period to further develop and address any issues that may have arisen during its initial implementation.