CCCI, a pillar of national growth for almost a century

The Cyprus Chamber of Commerce and Industry marks 95 years of contribution to the business and socio-economic life of the country. It was founded during tough times of poverty in 1927, by a group of progressive visionaries who came together to forge a structured organisation that could contribute to the country’s economic growth and develop their commercial and business activities.

Their effort was not aimed at creating opposition to workers, as unionism was virtually non-existent in Cyprus at the time. It was more focused towards unifying trade and industry forces.
The Bank of Cyprus was the driving force of this innovation, in coordination with other financial institutions which operated as savings funds, municipalities and a number of traders. The Chamber’s founding assembly was held on April 14, 1927, at the Bank of Cyprus central offices situated at the time in the Phaneromeni area of the capital’s historic city centre. The Cyprus Chamber of Commerce was established with members from all communities, including Greek and Turkish Cypriots, Armenians, Maronites, Latins, British citizens, as well as British and Greek nationals living in Cyprus.

As to the individuals who played a pivotal role in establishing the Chamber, they included Ioannis.Chr.Economides, Bank of Cyprus Director General, Hugh Llewellyn, Director General of Ottoman Bank, banker Kleanthis Christofides and traders Cecil D.Hay, N.L.Petrides, Costas Christodoulou, A.Artemis and Ahmed Bedevi Kanaan.

Early on, Hugh Llewellyn Jones took over as President, with Ioannis.Chr.Economides the Vice President, Cleanthis Christofides serving as Treasurer and M.H Whittern being the General Secretary, later replaced by long serving attorney Thiseas Tavernaris. Members of the first executive board included the mayors of Nicosia, Limassol, Famagusta, Larnaca and Paphos, the Chief Customs Officer, the Inland Revenue Officer and the Agriculture ministry director General. The Governor of Cyprus was named honorary president.

Multifaceted action

From the outset, the Chamber claimed an active stake in shaping socio-economic policies, systematically appealing to authorities as an advisory expert platform on promoting trade, industry and tourism, helping out traders and the economy in any way relevant and possible.

Not long after its establishment, the Chamber begun issuing product and goods origin certificates in order to facilitate exports, as well as identity certificates to its own members and anyone who travelled abroad for trading reasons.

Looking outward

The Chamber looked outward from its formative years, developing important external synergies, aimed at promoting the interests of the local economy. Initially, as Cyprus was still a British colony, the Chamber developed close relations with the Federation of British Industries, the Federation of British Chambers and the London Chamber of Commerce.
A year on from its establishment, the Chamber was represented on the Council of the British Chambers of Commerce Syndicate. Beyond that though, the Chamber developed ties with relevant organisations in Greece, Spain, France and Egypt.
That’s an aeon way in comparison to where the CCCI finds itself today in terms of commercial ties, having forged major multi-dimensional cooperation with many countries, more so European Union members.
More than maintaining and promoting bilateral relations with Commerce and Industry Chambers globally, the CCCI is also a fully-fledged member of the Eurochambers, representing Cyprus, the International Chamber of Commerce, the International Labour Organisation, the Mediterranean Chambers Union, the Balkan Chambers Union, the European Association of Small and Medium Sized Businesses, Eurocommerce, the International Service of Product Codification, the International Association of Small and Medium Sized Businesses and the European Association of Promoting Trade.

The early years

The Chamber became actively involved in labour issues and institutions from the outset and was a founding member of the Labour Advisory Board in the 1940s.
In 1942, as WW2 was raging, the Cyprus Industrialists Association was established under the auspices of the Chamber, followed a decade later by the Cyprus Commerce and Industry Federation and relevant district federations, in Nicosia, Limassol, Larnaca, Famagusta and Paphos.
In 1957, the Turkish Cypriot Chamber of Commerce was established to represent Turkish Cypriot traders.

Early Independence years

Following the establishment of the Republic of Cyprus, the Chamber was inevitably upgraded and launched itself into a major factor in the country’s economic growth, playing a decisive role and making an invaluable contribution.
The expertise of the Chamber and its members, coupled with international networks were pivotal in turning a mostly agricultural society into a multi-pillar economy with an organised industry, tourism and services sector.

Growth brought to the fore the need to reorganise and restructure the Chamber. In 1963 the Cyprus Chamber of Commerce was renamed Cyprus Chamber of Commerce and Industry (CCCI) and the local commerce and industry federations to Nicosia, Limassol, Larnaca, Paphos and Famagusta Chambers. That same year sees the establishment of the Cyprus Commerce and Industry Federation and the Cyprus Industrialists Associations, which merged with the CCCI.
Post-independence, CCCI members greatly increased and local chambers became more structured, making a significant contribution in shaping the country’s economic model, currently maintained for the most part. No business activities are now beyond the focus of the CCCI.

The Chamber was a frontrunner in addressing the need for designated industrial areas and zones, thus contributing to the local industry’s modernisation and growth. The International State Fair, an institution which defined economic development for decades, bears the CCCI’s initiative mark, while the Stock Exchange in its current form, was first founded and operated under the CCCI umbrella.
Numerous foreign businesses set up or were represented in Cyprus and investments were realised through CCCI contribution.

1974 destruction and rebuilding

CCCI was there when it mattered, the toughest of times for Cyprus. The Turkish invasion shattered commercial and industrial growth, destroyed infrastructure and forced closures on companies who lost most or all their assets. The Chamber stepped in and using resources and knowhow at its disposal, greatly contributed to performing the post-war ‘economic miracle’ of rebuilding.

 

 

The growth of tourism and other services was promoted and fast-tracked by CCCI, which also facilitated Cypriot business expansion abroad, through the trading missions programme and organising visits by foreign companies to the country.

The Chamber also systematically promoted commercial ties with other countries, taking a frontline role in developing offshore activities in Cyprus, a sector that has since made a decisive contribution to the country emerging as a regional services and business activity hub.

CCCI has advised all governments and competent authorities over time, being a knowledgeable business source with a significant role in the wider development of infrastructures and institutions and structural changes of the country’s economic model.

Major infrastructure works, such as airports were gradually built through joint public and private sector ventures, while the General Health System (GESY), was realised with active CCCI participation.

The Chamber also significantly contributed to allievating the consequences of the 2013 financial crisis, as well as the recent pandemic meltdown.

CCCI played a leading role in Cyprus applying to join what was then known as the European Economic Community.

The CCCI had forged close ties with the European Commission, long before the country’s EU accession, an approach which aimed at providing reliable information and guidance to its members but also the wider public, on EU issues, and in particular, promoting cooperation between European and Cypriot businesses.

The Chamber operates numerous EU information services and it could actually be said to be the focal point of providing such information. They include the Information and Business Cooperation Unit of the European Centre of Business Support operating in Cyprus in the framework of Enterprise Europe Network, the European Information Centre for Cyprus, the Official EU Publications Sales Office in Cyprus and its connection with information databases in Brussels and Luxembourg.

Τhe Chamber vision

‘It’s the same as everyone else’s in Cyprus’, CCCI says, noting that its ultimate goal is the best possible interest of the economy and Cyprus, working towards improving the country, both at a federal and local chamber level.

‘We are striving for a modern state with high quality infrastructure and facilities and a legal framework that is digitally oriented, forging a country looking outward, with high quality of life for its citizens’.

 

President and General Secretaries

11 people have served as CCCI Presidents and six as General Secretaries.

Presidents:

1927 – 1936: Jones Llewelyn Hugh

1936 – 1952: Dimitros Dimitriou

1953 – 1958: Georgios Schizas

1958 – 1962: Nikos Demetriou

1963 – 1979: Michalakis Savvides

1980 – 1990: Andreas Avraamides

1990 – 1996: Phanos Epiphaniou

1996 – 2005: Vasilis Rologis

2005 – 2011: Manthos Mavrommatis

2011 – 2017: Feidias Pilides

2017 -Today: Christodoulos Angastiniotis

General Secretaries:

1929 – 1961: Thiseas Tavernaris

1961 – 1964: Ninos Rossos

1964 – 1971: Pavlos Mpenakis

1971 – 1974: Stelios Theocharides

1975 – 2012: Panayiotis Loizides

2013- Today: Marios Tsiakkis

The Chamber was initially housed on historic central Ledras street, the capital’s commercial heart, in an area where the famous ‘women’s bazaar’ was held. It later moved to a different location in the same area and relocated after several years to the ASTIR building on Ariadnes street. In 1967, there was yet another move, this time on the Hadjisavvas building on central Metaksa (Eleftherias) square.
In 1985, the CCCI moved to its current, privately owned location on Griva Dhigeni Avenue, known as KEVE House.

Α solid powerhouse of calm guaranteeing progress and growth

The Cyprus Chamber of Commerce and Industry marked 95 years of contribution to the country’s economic and commercial growth in early April. It all begun in 1927 by a group of progressive traders and financial actors across the island and almost a century later, always adapting to the times, multi-faceted and contemporary, the Chamber has emerged as a fundamental aspect of the country’s economy. The CCCI General Secretary Marios Tsiakkis offered his take on the importance of history, today’s conditions and prospects of future enterprises.

Tell us about the experience of leading an organisation that’s almost a century old.

It bears a great weight of responsibility on someone. Not merely because you are representing the country’s business community but more so as the CCCI history does not allow for irresponsible approaches and impetuous business moves. This institution was built on assertiveness, credibility and trustworthiness and we are obliged to maintain these attributes as the apple of our eye. As a leader, you need to forge ahead based on the timeless CCCI values and principles, as well as showing timely flexibility in responding to varying contemporary needs and challenges.

We haven’t just been static all this time, but kept growing and expanding, with the addition of new businesses as members, yet another level of difficulty to respond to. Daily, CCCI manages dozens of operational problems and issues of immediate concern to its members and by extension, the socio-economic environment. We always strive to be responsible and prudent in providing solutions, keeping the country’s best interests at heart and maintaining the right business practices. This requires the support and collective cooperation and knowhow of CCCI and local chambers Executive Boards, member views (both companies and professional associations), experience of participating in European and international organisations, as well as the expertise of its officials.

The long standing CCCI history has always been my compass, coupled with the modesty that’s always been part of our actions and defending our members interests. This three-pronged strategy, in close cooperation with the Executive Board and Committee members, determine the Chamber’s policies.

The CCCI Secretariat chair is no less than a ‘hot potato’, requiring complex skills and abilities, but most significantly, consensual approaches. I endeavour daily to respond as best I can to the CCCI work and mandate.

How does accumulated experience and knowledge contribute?

Our purpose is to promote, support and claim a friendly and flexible business environment in which companies, organisations and associations can forge growth and create new employment positions both to the benefit of owners, but also the wider society.

In an open market economy and globalised conditions, private sector enterprise has shown itself to be the driving force for progress and prosperity. But doing that is not easy, as the marketplace keeps changing, becoming more demanding and competitive. Both consumers and states want more, while environmental, economic and energy considerations have become infinitely more challenging. Not to mention technological advancements in production methods, distribution and trading, legislation becoming more limiting in its requirements and technological specifications increasing, all of which require additional effort, if a business wants to remain competitive and relevant.

Survivors are not necessarily the strongest, but those able to adapt and evolve based on existing conditions, but also what’s coming. That requires ongoing investment in raising productivity through the integration of new technologies and personnel training.

In this tough effort to survive the obstacles and grow, companies need the support of an organisation like CCCI that can provide accumulated knowledge and experience from daily contact with members, as well as long-time contribution to shaping the country’s economic path. We are in a position to process and propose solid views on how to proceed with issues and measures.

So the CCCI experience, gained through responsible practices is the best guarantee it will continue on this track, contributing to our country’s present market environment but also future prospects. I would say that CCCI is a solid powerhouse of calm, modestly serving the fundamental goal of developing the country’s economy and contributing to the country’s growth.

What is the CCCI DNA?

From the outset, the aim of the Chamber was to unify commercial forces and through their activity, as well as participation in forging business and economic decisions, achieve the maximum level of growth, internationalising the Cyprus economy possibilities and by extension improving prosperity and quality of life.

 

Deeply rooted in the CCCI DNA is the principle that when promoting and defending members, the best interests of the country will always be considered and protected. Our steadfast philosophy is that the long-term benefit for businesses and employees is best secured and safeguarded by achieving the right kind of balance between the rights of each side, establishing healthy competition rules, simplifying and modernising state operational infrastructure, strengthening institutions and legislation effectively implemented.

The CCCI entrance hall, dedicated to the country’s EU accession.We’re here to defend doing business right and not just doing business! To be honest, on many occasions the CCCI positions did not satisfy the demands of all its members, but surely served to safeguard the country’s best interests.

Defining moments in the Chamber’s long-standing history?

In almost a century of history and active involvement across the range of the country’s socio-economic and political realities, it’s quite difficult to note just one moment. Out of the CCCI life hat, I would pull out 1963 and the decision to unify the Commercial and Industrial Organisations and Federations, which shaped the current Chamber structure. There’s also 1968, when legislation was passed, regulating the establishment, make up and operations of the Chamber, based on which CCCI received official state recognition as the main institution representing businesses.

In the post-war period, I would definitely mark the organisation’s decisive contribution in performing what was dubbed is the Cyprus economic miracle following the Turkish invasion destruction, the massive EU and Eurozone accession effort, as well as the 1978 establishment of the Cyprus Stock Exchange.

In more recent times, I would note the founding of Green Dot, WEEE and AFI, for recycling various materials, thus making a substantial contribution to environmental protection.

And not least, CCCI contribution in promoting the country internationally.

Any incident that stands to mind?

The March 2013 events, with the bailout, the Popular Bank closure, deposits haircut and all the hardships Cypriots and businesses had to endure, made up for the most shocking time of my entire professional career.

As a CCCI General Secretary, I took over the General Directorship of CCCI in January 2013 and in the space of a few months we were steamrolled by a tsunami of repercussions.

In a single night, billions of euro in fortune vanished into thin air, people were smashed by desperation and our country became the target of international media on its business and economic practices. In this darkest of circumstances, we took upon ourselves the responsibility of picking up the pieces and rebuilding the prospects of an optimistic future, a task which seemed impossible at the time. Our actions were targeted and we took part in numerous meetings with both the government and troika of European institutions monitoring Cyprus; we appeared on hundreds of international networks and conferences and organised business visits to dozens of countries to repair the damage as well as promote the advantages and opportunities that Cyprus had to offer.

Considering the results in hindsight, the importance and usefulness of CCCI is self-evident. We stepped up in 2013, the same way we did in 1974, conjuring up all our strength and resources and working closely with the government, parliament, our members and unions, did what had to be done, what was possible at both local and international level, to bring the country back on its feet. And it worked.

CCCI present and future

The national Chamber of Commerce and Industry (CCCI) operates as the federal arm of district chambers across the five cities in the free areas of the Republic, namely Nicosia, Limassol, Larnaca, Paphos and Famagusta.

CCCI is the Cypriot businesspeople home and beyond providing a wide range of services, it publicly voices the views and positions of the organised local business community to the executive and legislative powers.

The federal chamber has over 10 thousand registered members from every facet of business activity in Cyprus, with more than 163 professional associations in commerce, industry and services (including tourism), are registered with CCCI.

CCCI is an independent organisation, set up and working as a legal entity that does not benefit from any state or other subsidies and funding. It covers expenses through members subscriptions and service charges.

CCCI is a recognised social partner in Cyprus, with active involvement in labour and community dialogue at national level.

It offers a wide range of services, including expert advice and information on commerce, industry and services issues, as well as promoting exports, supporting small and medium sized enterprises and not least gathering and distribution of relevant business developments that involves foreign markets, the EU, significant international agreements and so on.

CCCI regularly participates in trade fairs and exhibitions, also organising its own special interest exhibitions, international trading missions, educational programmes and business activity seminars, as well as connecting to relevant international databases, offering advice on EU commerce and industry matters and providing information on environmental developments that might be of interest to companies.

In addition, the chamber is available for advice on labour relations, issues certificates of origin and ATA CARNETS provides arbitration and mediation on trade disputes and is represented on numerous committees across the state and private sectors.

Furthermore, CCCI issues a series of commercial and other business guides, offers publications of corporate interest for sale and many other services of commercial and industrial relevance and value.

The chamber has always been actively involved in European schemes and programmes, acquiring rich expertise and knowhow. Many such programmes include research activity.

EXECUTIVE COMMITTEE

The current executive committee is made up of the following officials:

• Christodoulos Angastiniotis, President
• Feidias Pilides, former President
• Othon Theodoulou, Commerce Vice President
• Dinos Mitsides, Industry Vice President
• Andreas Demetriades, Services Vice President
• Costas Galatariotis, Tourism Vice President
• Tonis Toumazis, Finance Vice President
• Michalis Mousiouttas, Nicosia Chamber President
• Andreas Tsouloftas, Limassol Chamber President
• Avgoustinos Papathoma, Famagusta Chamber President
• Stavros Stavrou, Larnaca Chamber President
• Giorgos Mais, Paphos Chamber President
• Marios Tsiakkis, General Secretary
• Leonidas Paschalides, Deputy General Secretary
• Vasilis Rologis, Honorary President
• Phanos Epiphaniou, Honorary President
• Manthos Mavrommatis, Honorary President
• Panayiotis Loizides, Honorary General Secretary

It takes strategic planning to go through the dire straits

Mr.Tsiakkis, we’re going through tough times once again. The 2013 financial crisis was followed by the covid pandemic and now Ukraine. What’s your take on things?

It’s really not the best outlook, one should say. Following the multiple pandemic blows, we’re dealing with the Ukraine war repercussions, and inflation skyrocketing. This triple bill is destabilising, causing economic reversals that call for immediate management solutions.

Businesses and households are feeling the pressure from the rise in energy products, electricity and food prices, while property and investment professionals are concerned by consequences.

We believe that the fusion of these current issues will adversely affect the economy and business over the short term. The length of the war will be of a decisive nature, as prices push upwards in energy, leading to a domino effect on other products.

If the conflict hopefully ends soon, then the global economy will gradually pull itself back to recovery and normalcy, also reflecting on Cyprus. But if things take a turn for the worse, and military operations take longer, then we’ll have to deal with a prolonged problematic outlook, with difficulties multiplying.

We monitor developments daily, seeking to guide and advise our members accordingly. But the volatile situation, without a clear path ahead, is not helping. CCCI will be suggesting a targeted plan of action to the government, rising to both immediate challenges but also adopting more permanent measures in facing all types of challenges (pandemic, war, inflation). It is only through such strategic planning that we can ride stormy waters.

This short- and long-term action must attend to both businesses and households needs and cover all affected sectors, including energy, tourism, trade, agriculture, investments, property development, transport, services and industry.

Our proposal has a three-pronged axis:

*Immediate support of businesses and individuals in facing repeated price increases in basic foodstuffs and services

*Strengthening the country’s resilience in managing pandemic and war repercussions with the least possible bottlenecks

*Targeted action in gradually raising the level of self-sustenance in products considered of strategic importance for the survival of businesses and citizens, should similar conditions arise in the future.

We believe that Cyprus has the stamina to overcome today’s circumstances, as it has clearly shown in the recent past.

But in order to reach that point, it will require fast tracking decisions and applying effective initiatives on the ground.