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[Skywalker]

Gov't to allow Israeli cos to invest in Turkish Cyprus
Israel previously denied permission to avoid confrontation with Greece.
Dalia Tal 5 Jan 05 14:31


"The Israeli government will allow Israeli companies to invest in the Turkish Republic of Northern Cyprus," Israel's Ambassador to Turkey Pinchas Avivi told Turkish Foreign Minister and Deputy Prime Minister Abdullah Gul on Monday, during a visit to Israel.
Until now, the Israeli government avoided granting permission to Israeli businesspeople to invest in the Turkish-controlled part of Cyprus, in order to avoid a confrontation with Greece. Following Turkey's recent negotiations for entry into the EU, European countries eased their objections to investment in Turkish-controlled Cyprus. Israel has followed suit.

Gul said the Turkish Republic of Northern Cyprus needed all types of investment in transportation, tourism, agriculture, and water. Among the projects under consideration are a renewal of the shipping line between Haifa and Cyprus, and a large water project in Nicosia by the Tahal Group.

During the visit, Gul met Israeli businesspeople and company managers to interest them in investing in telecommunications, agriculture, agroindustry, energy, water infrastructure, and security of airports, seaports and other installations and facilities in Turkey.

Israel-Turkey Business Council chairman Dr. Alon Liel, a former Ministry of Foreign Affairs director general, said Turkey would host a major security exhibition in June 2005. Turkey suffered severe terrorist attacks during 2004. Many Israeli security companies are likely to be interested in the exhibition.

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