GİAD’s Critiques and Perspectives on International Industrial Zone Agreements
Young Businessmen Association (GİAD) Calls for Industry Development and Protection of Domestic Production in TRNC
The Young Businessmen Association (GİAD) has emphasized the importance of prioritizing the development of industry and protection of domestic production in the Turkish Republic of Northern Cyprus (TRNC) for the economic independence and sustainable development of the country.
In a recent statement, GİAD expressed concerns about the International Agreement on Industrial Zones, citing that it does not align with the goals of fostering economic independence and sustainable development due to its restrictive nature and focus on companies established in Turkey.
According to GİAD, the current law granting privileges exclusively to Turkish companies hinders the principles of a contemporary liberal economy. The association advocates for a more inclusive approach that considers the local industrial potential, geographical advantages, and international connections of TRNC.
Furthermore, GİAD criticized the lack of transparency in the allocation of industrial zones, with only 22% being utilized for production areas while the rest is used for storage and similar purposes. The association urged for the efficient use of existing industrial zones rather than the creation of new ones.
GİAD also raised concerns about the motivations of foreign investors in TRNC, emphasizing the need for transparent data and needs analysis to justify their interest. The association called for equal investment conditions that respect the rights of domestic industrialists and safeguard the economic interests of the country.
The statement highlighted the importance of vocal support from the Turkish Cypriot Chamber of Industry (KTSO) in protecting domestic production and ensuring fair competition. GİAD proposed several solutions for sustainable industrial development, including targeting investments with high technology intensity and providing incentives to increase competitiveness among local industrialists.
In conclusion, GİAD called for a more visionary and transparent management approach to promote economic development, protect domestic production, and facilitate international investments in TRNC. The association urged the Turkish Cypriot community, industrialists, and decision-makers to collaborate for a more equitable and effective industrial policy.
As GİAD continues its advocacy for the rights of domestic industrialists and the future prosperity of TRNC, the association remains committed to building a more resilient and sustainable economy for the country.
