International organization participation:
Australia Group, C, CE, EBRD, EIB, EU, FAO, IAEA, IBRD, ICAO, ICC,
ICCt, IDA, IFAD, IFC, IHO, ILO, IMF, IMO, Interpol, IOC, IOM, IPU,
ISO, ITU, ITUC, MIGA, NSG, OAS (observer), OIF, OPCW, OSCE, PCA, UN,
UNCTAD, UNESCO, UNHCR, UNIDO, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO,
WMO, WTO
Diplomatic representation in the US: chief of mission: Ambassador Andreas KAKOURIS chancery: 2211 R Street NW, Washington, DC 20008 telephone: [1] (202) 462-5772, 462-0873 FAX: [1] (202) 483-6710 consulate(s) general: New York note: representative of the Turkish Cypriot community in the US is Hilmi AKIL; office at 1667 K Street NW, Washington, DC; telephone [1] (202) 887-6198
Diplomatic representation from the US:
chief of mission: Ambassador Ronald L. SCHLICHER
embassy: corner of Metochiou and Ploutarchou Streets, 2407 Engomi,
Nicosia
mailing address: P. O. Box 24536, 1385 Nicosia
telephone: [357] (22) 393939
FAX: [357] (22) 780944
Flag description:
white with a copper-colored silhouette of the island (the name
Cyprus is derived from the Greek word for copper) above two green
crossed olive branches in the center of the flag; the branches
symbolize the hope for peace and reconciliation between the Greek
and Turkish communities
note: the "Turkish Republic of Northern Cyprus" flag has a white
field with narrow horizontal red stripes positioned a small distance
from the top and bottom edges between which is centered a red
crescent and red five-pointd star
Economy Cyprus
Economy - overview:
The Republic of Cyprus has a market economy dominated by the
service sector, which accounts for 76% of GDP. Tourism and financial
services are the most important sectors; erratic growth rates over
the past decade reflect the economy's reliance on tourism, which
often fluctuates with political instability in the region and
economic conditions in Western Europe. Nevertheless, the economy
grew a healthy 3.7% per year in 2004 and 2005, well above the EU
average. Cyprus joined the European Exchange Rate Mechanism (ERM2)
in May 2005. The government has initiated an aggressive austerity
program, which has cut the budget deficit to below 3% but continued
fiscal discipline is necessary if Cyprus is to meet its goal of
adopting the euro on 1 January 2008. As in the area administered by
Turkish Cypriots, water shortages are a perennial problem; a few
desalination plants are now on line. After 10 years of drought, the
country received substantial rainfall from 2001-03 alleviating
immediate concerns. The Turkish Cypriot economy has roughly
one-third of the per capita GDP of the south, and economic growth
tends to be volatile, given north Cyprus's relative isolation,
bloated public sector, reliance on the Turkish lira, and small
market size. The Turkish Cypriot economy grew 15.4% in 2004, fueled
by growth in the construction and education sectors, as well as
increased employment of Turkish Cypriots in the Republic of Cyprus.
The Turkish Cypriots are heavily dependent on transfers from the
Turkish Government. Under the 2003-06 economic protocol, Ankara
planned to provide around $700 million to the "TRNC." Agriculture
and services, together, employ more than half of the work force.
GDP (purchasing power parity):
Republic of Cyprus: $17.79 billion; north Cyprus: $4.54 billion
(2006 est.)
GDP (official exchange rate):
Republic of Cyprus: $16.35 billion (2006 est.)
GDP - real growth rate:
Republic of Cyprus: 3.7%; north Cyprus: 10.6% (2006 est.)
GDP - per capita (PPP):
Republic of Cyprus: $22,700 (2005 est.); north Cyprus: $7,135 (2004
est.) (2006 est.)