LEFKOSA - Economic and Financial Cooperation Protocol and another protocol about finance of investments were signed between Turkey and the Turkish Republic of Northern Cyprus (TRNC) on Friday.
The Economic and Financial Cooperation Protocol includes development of TRNC economy, acceleration of sustainable development, efforts to increase production and prosperity, support to real sector and measures to be taken to resolve problems.
The Economic and Financial Protocol was signed by State Minister and Deputy Prime Minister Abdullatif Sener and TRNC State Minister Salih Cosar for Economy.
Meanwhile, the protocol about finance of investments was signed by TRNC Prime Minister Dervis Eroglu and Deputy Prime Minister and Sener.
Speaking at the signing ceremony , Sener said that the Economic and Financial Protocol included a period of three years.
He said that the TRNC would be provided with an assistance of 450 million U.S. dollars during this period.
Stating that this financial aid would support current economic measures with urgent economic measures which would be put into practice by TRNC government, Sener explained main topics of the protocol.
Sener said that insurance and premium would be supported with employment which would be made by private sector of TRNC and noted that it aimed to find jobs for all Turkish Cypriot people.
Stating that air transportation would be supported to improve tourism sector and it would increase tourist potential, Sener said that loan with low interest rate would be granted to investments which would be made to increase quality of current tourism facilities.
Sener said that measures would be made to remove problems between tourism, education and industry sectors and Investment Bank and noted that tradesman, farmer and young investors would be given loan with low interest rate.
Noting that some debts of agriculture sector would be restructured and problems regarding customs between Turkey and TRNC would be solved rapidly, Sener said that support which would be made in agriculture would be directly given to farmer and production would cheapen by input support.
Sener said that technical studies and preparations would be made in making TRNC free zone and added, ''so, in this region, what kind of productivity a free zone project will reach in which conditions. Technical studies in this issue will be completed rapidly and later a decision will be taken according to the results of technical study.''
Sener said that infrastructure investment worth of 107.5 trillion Turkish Liras(TL) in 2003 for TRNC would be financed by Turkey with the second signed protocol. He added that they targeted an infrastructure investment total worth of 143 trillion TL together with the investments continuing from previous year.
Stating that construction of Middle East Technical University (METU) campus in TRNC would be accelerated, and that education would start at the beginning of 2004 education year, Sener said, ''if it is considered as appropriate, those students will get education in the first year in Ankara, and later continue their education in TRNC following completion of construction of campus.''
Recalling that Northern Coast Road project was initiated in TRNC, Sener said three trillion lira allocation was made for this. He said infrastructure works of Bafra tourism center would start, and that a second transformer center would be installed in Girne. He also said construction of technology development center would start this year.
Sener said support of Turkish government to Turkish Cypriots would continue increasingly, stating that talks pertaining to economic program would cover a dynamic process, and that they would continuously cover needs of Turkish Cypriot people.
(UK-EÖ-GC-AY) 18.04.2003