European University of Lefke (EUL) Faculty of Economics & Administrative Sciences organized a conference tittled “Evaluation of Northern Cyprus Business Sector”. Vice Presedent of Norhern Cyprus Chamber of Commerce Semral Erel attended the conference as a speaker.

Erel stated the main principle of Northern Cyprus Chamber of Commerce as serving the interests of the society, primarily the business life in the TRNC with internationally recognized status and years of experience. Erel said that “In this context, the economic and social development of our country, and at the same time the integration with the world, has been the focus of our chamber in order to improve our competitiveness, business and investment environment”. Erel pointed out that there are more than 3000 active members of the Norhern Cyprus Chamber of Commerce from the fields of wholesale and retail trade including industry, construction and tourism.

Competitiveness is vital for businesses

Erel stated that Northern Cyprus Chamber of Commerce advocates that achieving more employment, income and welfare in the TRNC is possible only with the development of the private sector and competitiveness and added that they are carrying on their works to increase the development of private sector and its members and the level of competitiveness in Northern Cyprus. Pointing out the importance of competitiveness for businesses, Erel said that “In this regard, our chamber makes scientific studies, especially in terms of administrative, legal and financial regulations, developing intensive business and investment environment, developing cost-reducing and productivity-enhancing proposals, sharing them with relevant public institutions”.

Globalization provides an opportunity to the liberalization of trade and allows trade to gain an international structure

Erel said that, Northern Cyprus Chamber of Commerce tries to make contributions to the required fields of Small and Medium sized enterprises (KOBİ) such as improvement of institutional capacities and performances, branding, quality standards, and compliance with international standards and added that “There is no doubt that; globalization, the everyday liberalization of trade, the acquisition of an international character, ever-evolving communication and transportation technologies and digitalization, have an increasing and important effect on  the role of the private sector in economic growth and development of private sector.” Erel stated that companies need to review their own structures in order to keep up with the new order of economy and trade.

Erel said that “Today, we have witnessed the end of the competition environment that only included the well-established, big companies, we see that innovative, confident SMEs and new entrepreneurs are starting to take on the role in the growth and development of the economies”.  Erel said that they have witnessed the change of models of the manufacturing methods and business styles of many industries with digitalization and the internet. Erel pointed out that good and right management is the prior condition to keep up, grow, maintain sustainability and even to become global.

At the end of the conference Erel expressed his sincere thanks to the EUL Faculty of Economics & Administrative Sciences, Dean of the Faculty Prof. Dr. Okan Veli Şafaklı and everyone who has contributed to the conference.