Limassol chamber of commerce and industry expressed its surprise on Friday after its counterpart in Nicosia opposed the choice of Limassol as the location for the commercial court.
“The chamber expresses its great surprise at yesterday’s announcement by the Nicosia chamber, which criticizes the government’s decision to establish a commercial court based in Limassol, as well as the implication, in the same announcement, that they would prefer the deputy ministry of shipping to be in Nicosia,” Limassol chamber said in an announcement.
The Limassol chamber stressed that the decision to base the commercial court in the seaside town is the product of an in-depth study based on the needs of the court in question, that is dealing with trade disputes involving more than €2 million.
“Such large-scale cases concern almost exclusively large, international-scale businesses which, in their vast majority, are operating in or out of Limassol.”
With the same reasoning the deputy ministry of shipping was established in Limassol, as most companies in the shipping industry are based there, they argue.
In addition, the Limassol commerce chamber considers it was incorrect to move the port authority of Famagusta to Nicosia instead of Limassol port in 1974, something that continues to create problems.
“The Limassol chamber of commerce and industry agrees that Nicosia can and should be supported as an administrative centre, as other cities and provinces should be relied upon to make full use of their own distinctive features, of course always in accordance with objective criteria on what best serves the economy of our country as a whole,” the statement said.
Nicosia chamber on Thursday welcomed the plan to establish a commercial court, something they said has been needed for a long time.
They argued, however, that ‘for the convenience of both government agencies and hundreds of Cypriot and international businesses based in Nicosia’ the court should be in the capital.
“The importance of Nicosia is mainly based on government services, so any removal from the capital will lead to further downgrading.”
Nicosia is already affected by the operation of schools of the University of Nicosia in other towns and the fact that it has no beach front, marinas or golf courses, they said.