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12° Nicosia,
29 May, 2024
 

Nicosia's 'one-stop shop' sparks green line trade revolution

EU's Nicosia center redefines trade—€14.6M in 2022 alone

Newsroom

The European Commission has taken a significant step in facilitating cross-border trade with the introduction of the EU One Stop Shop (EU OSS) for Green Line trade, located in the vibrant city of Nicosia.

In a momentous opening ceremony, Mr. Mario Nava, the Director General of the EU's Reform Department, underscored the EU's unwavering commitment to nurturing Green Line trade as a pivotal confidence-building measure toward the long-sought reunification of the island.

This groundbreaking initiative has garnered support from key players in the business realm, with the Cypriot Chamber of Commerce and Industry and the Turkish Cypriot Chamber of Commerce standing as pillars behind its implementation.

The primary objective is to fortify assistance for Cypriot businesses actively involved in Green Line trade, fostering a more interconnected and robust economic landscape.

The EU OSS is poised to become a hub of invaluable resources, offering specialized expertise, information, and networking support in multiple languages, including Greek, Turkish, and English.

What makes this endeavor even more commendable is its funding source – the European Union's aid program dedicated to the Turkish Cypriot community, a testament to the commitment to inclusivity and economic empowerment.

This program, rooted in Council Regulation 389/2006, goes beyond mere economic facilitation.

It strategically focuses on the holistic development of the region, fostering improved community contacts and laying the groundwork for seamless integration into the broader European framework.

The Green Line Regulation (Council Regulation 866/2004) intricately outlines the conditions governing movement across the Green Line, a lifeline for the trade between the Turkish Cypriot and Greek Cypriot communities.

The impact of such cross-line trade is exemplified by the staggering figure of €14,647,241 in trade value recorded in the year 2022 alone, underscoring the economic vitality and potential this initiative holds.

For those seeking assistance or further information, the EU OSS office, situated at Lapithion Mansion in Nicosia, is ready to serve as a focal point for inquiries. Prospective enquirers can reach out to the office through the contact number 22 022538.

For a deeper dive into the details and to stay updated on the latest developments, interested parties are encouraged to visit the official website: http://www.abbilgi.eu.

The EU OSS is not just a trade facilitation initiative; it's a testament to the power of collaboration and forward-thinking policies that pave the way for a more connected and economically vibrant future for Cyprus.

TAGS
Cyprus  |  economy  |  EU  |  Nicosia

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