Cyprus-Forum.com

[YFred]

Reminder to the leaders of financial benefits of a solution

THE PRIO Cyprus Centre yesterday announced the publication in Greek and Turkish of the report “The Day After: Commercial opportunities following a solution to the Cyprus problem”.

The research, first published last year, found a solution to the Cyprus problem would yield a peace dividend of at least €1.8 billion per year in new business with Turkey and other opportunities for the island, with each Cypriot family standing to gain an extra €5,500. A second report found that the peace dividend could be even higher at €4.1 billion, while raising the estimate for the annual dividend per family to €12,000.

The reminder comes just as talks between President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat focused on economic matters this week.

The research, carried out by Fiona Mullen, Özlem O?uz and Praxoula Antoniadou Kyriacou, focused primarily on the sectors that would be expected to benefit most. Further research into the wider economy published in their second report, entitled “The day after II: Reconstructing a reunited Cyprus”, found that the peace dividend could be even higher.

The report was the first serious assessment by any economist of the economic gains of a solution, PRIO said. It has since been widely quoted, including in Britain’s House of Lords.

In their report the Cyprus-based researchers, projected growth in trade between Cyprus and Turkey for the first seven years after a solution to the Cyprus problem. As an initial reference for the forecast, before making downward adjustments, they took the breathtaking rise in commerce that followed the thawing of relations between Greece and Turkey from 1999.

According to the team’s calculations, the reunification of Cyprus would add, on average, in the first seven years: €700 million per year in new tourism business, including €385 million from Turkey, €393 million per year in new business for Cypriot construction companies, €155 million per year in new business for Cypriot real estate companies, €162 million per year for the Cypriot university education sector, €103 million per year for Cypriot accounting and legal firms, €184 million in new foreign direct investment into Cyprus, not including the already substantial investment in construction and real estate and €618 million per year in total additional trade in goods and services with Turkey.

Copyright © Cyprus Mail 2009

[humanist]

I can't see any benefit to the GC's for unification ............... TC's are already costing us a heap

[Raymanoff]

Cyprus mail is once again taking numbers out of their arse...

[humanist]

I think anyone can make up numbers and publish them ..... you just have to own a newspaper to push them on

[YFred]

Cyprus mail is once again taking numbers out of their arse...

Whats the matter, are you afraid the Russians will be left out of the loop.
Don't worry, they can be included in the deals, they'll take their cut.

[YFred]

I think anyone can make up numbers and publish them ..... you just have to own a newspaper to push them on

Do we have a real Economist on the forum to give us an unbiased opinion on how much trade RoC has lost do to having no access to the Turkish Airspace, Sea Ports and the Economy in general. I suspect it runs into billions over 20 years.

[DT.]

I think anyone can make up numbers and publish them ..... you just have to own a newspaper to push them on

Do we have a real Economist on the forum to give us an unbiased opinion on how much trade RoC has lost do to having no access to the Turkish Airspace, Sea Ports and the Economy in general. I suspect it runs into billions over 20 years.

drop in the water compared to the revenue Turkey is losing from not being allowed to enter the EU because of Cyprus.

We're 750,000 people and we generate 21 billion USD a billion up or down is no big deal. The only cost from not flying over Turkey is for Cyprus Airways who has filed an application for subsidies from the EU in connection with this loss.

[YFred]

I think anyone can make up numbers and publish them ..... you just have to own a newspaper to push them on

Do we have a real Economist on the forum to give us an unbiased opinion on how much trade RoC has lost do to having no access to the Turkish Airspace, Sea Ports and the Economy in general. I suspect it runs into billions over 20 years.

drop in the water compared to the revenue Turkey is losing from not being allowed to enter the EU because of Cyprus.

We're 750,000 people and we generate 21 billion USD a billion up or down is no big deal. The only cost from not flying over Turkey is for Cyprus Airways who has filed an application for subsidies from the EU in connection with this loss.

There is more cost than just the use of airspace and seaports. Classic example is buying water from Greece. Four times the cost and undrinkable, are you kidding?

[Raymanoff]

YFred, you are being ridiculous, stop embarrassing yourself... water? I Agree that the Cyprus Shipping Industry would gain by having access to Turkeys ports but you guys are the problem, not us... we've been knocking on your door for years, infact this is one of the chapters you have to complete in order even to start any talks regarding accession to EU. (still a big joke). Everything is in your hands, you are the loosers and not us... infact you have a lot to gain than to loose. Cyprus Mail is getting seriously ridiculous day by day... and infact i know one of the owners, perhaps i should ask him where they took these numbers from.

[YFred]

YFred, you are being ridiculous, stop embarrassing yourself... water? I Agree that the Cyprus Shipping Industry would gain by having access to Turkeys ports but you guys are the problem, not us... we've been knocking on your door for years, infact this is one of the chapters you have to complete in order even to start any talks regarding accession to EU. (still a big joke). Everything is in your hands, you are the loosers and not us... infact you have a lot to gain than to loose. Cyprus Mail is getting seriously ridiculous day by day... and infact i know one of the owners, perhaps i should ask him where they took these numbers from.

That was just an example. I would like an Economists view of the matter. Another example is how much is the Shipping industry losing by having no access to Turkish Ports. If GC think that they are blocking Turkish EU accession they are in a dream land. Turkey itself is not ready, and will not be so maybe for another 10 years, in the mean time GCs are congratulating themselves for blocking accession and costing Turkey money. There is an old proverb "dogruyu soyleyeni dokuz koyden kovmushlas - kicked out of 9 villages for speaking the truth."