New customs deal to boost tax revenues
A CUSTOMS cooperation protocol has been formally established between Türkiye and the TRNC.
The protocol, signed by Finance Minister Özdemir Berova and Turkish Trade Minister Ömer Bolat, aims to enhance collaboration between the customs administrations of both nations by facilitating the mutual exchange of information on commercial goods through automated processes.
The signing ceremony, held at the Finance Ministry last Friday afternoon, was attended by key representatives, including Turkish Ambassador to Lefkoşa Metin Feyzioğlu and Economy and Energy Minister Olgun Amcaoğlu.
Bolat, speaking at the signing ceremony, highlighted the productive discussions with Berova.
According to Bolat, the customs cooperation protocol will enable the automated sharing of information about commercial products, promoting efficiency in customs processes and serving as a deterrent against unregistered business activities, ultimately preventing tax revenue loss.
Bolat further disclosed that the collaboration between TRNC and Türkiye extends beyond the customs protocol, encompassing training for customs personnel and technical support.
He announced plans to install two new technology X-ray devices at Girne and Gazimağusa Ports by the end of 2024, a step that is expected to significantly accelerate customs and commerce between the two nations.
Berova echoed the sentiment of strong ties between Türkiye and the TRNC based on “love and kinship”.
He highlighted the significance of customs in fostering mutual commerce and emphasised the implementation of an advanced customs automation system.
To ensure integral customs security, Berova said that X-ray devices that will be donated by Türkiye will be installed at Girne and Gazimağusa port customs.
“As the biggest supporter of the TRNC, we welcome you and your entire delegation once again, emphasise that Motherland Türkiye will continue to be our greatest strength and hope that all our collaborations will be successful,” Berova stated. Gifts were exchanged to mark the occasion after the speeches.