President Ersin Tatar on Thursday said that the Turkish Republic of Northern Cyprus’s (TRNC) dependency on imports can be reduced by taking the right steps and through strategic planning on various sectors of the country’s industry.

The president was speaking during a meeting he held with the head of the Cyprus Turkish Chamber of Industry (KTSO) and its executive board.

President Ersin Tatar held a meeting on Thursday with representatives of the Cyprus Turkish Chamber of Industry within the framework of a series of meetings he has launched with economic organisations and bodies.

Developments in industry, needs, and problems faced locally and on a global level as well as opportunities, developing domestically produced goods, increasing local production and other issues were discussed during the meeting held at the presidential palace.

Speaking during the meeting, Tatar stressed the importance of supporting production in the country, adding that there was a need to increase the production of goods and services if a self-sustainable economy was to be achieved.

“The rise in global prices of goods, the fluctuations in the price of petrol and the inflation forecasts triggered by fluctuations in the foreign exchange rates are all factors which concern the Chamber of Industry which was why this meeting was important,” said Tatar.

The president said that it had become necessary to discuss the rise in the cost of living, the price instability, the budget deficit and slow flow of cash with the various economic organisations.

He added that it was important to continue taking steps that will raise the TRNC’s production strength and capacity.