Cyprus - Domestic trade



A flourishing cooperative movement provides facilities for marketing agricultural products. There are more than 500 Greek cooperative societies, with some 100,000 members. Many towns and villages have cooperative stores; the towns also have small independent shops, general stores, and bazaars. The nation is not self-sufficient and relies on imports for a number of food products and consumer goods. Since 1990, at least 12 US franchises have been established throughout the country.

Government price controls have been virtually eliminated as the nation has realigned its economic policies to be acceptable to the European Union. The result has been a more open market with greater competition.

Business hours are from 8 AM to 1 PM , and 2:30 to 5:30 PM in the winter and from 7:30 AM to 1 PM and 4 to 6:30 PM in the summer. Shops are open only in the morning on Wednesday and Saturday. Normal banking hours are from 8:30 AM to noon, Monday–Saturday. Advertising is mainly through newspapers and television. Direct marketing/telemarketing has also been used.

As a result of the island's division in 1974, there is no trade between the two communities across the UN buffer zone.

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