Turkey's indirect exports to Greek Cyprus up 55 pct

The Greek Cypriot Administration's imports from Turkey through third countries rapidly increased last year. Its imports from Turkey soared to 10.2 million euros last year from 4.6 million euros in 2013, marking a more than two-fold surge.

Greek Cyprus News Agency reported that cars, car parts, machines, machine parts, pharmaceutical products and plastics constituted the main items that Greek Cyprus imported from Turkey through third countries in 2014.

According to data released by the Greek Cyprus Statistical Office, which registers products' countries of origin without checking whether they are imported from Turkey or through a third country, imports from Turkey rose from 4.6 million euros in 2013 to 10.2 million euros in 2014.

The news report points to the fact that exports to Turkey through third countries surged, although Turkey does not recognize the Republic of Cyprus. According to Cyprus News Agency, most of the products that are imported from Turkey that rely on reliable trade resources are the products of multinational companies that have factories in Turkey. In most cases, Cypriot branches directly contact companies established in another country and pass orders to them, and then those multinational companies prefer to deliver orders from the Turkey-based factories.