O, UNIDO, UPU,
WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO

Diplomatic representation in US:
chief of mission: Ambassador Andreas J. JACOVIDES
chancery: 2211 R Street NW, Washington, DC 20008
telephone: [1] (202) 462-5772
consulate(s) general: New York
note: Representative of the Turkish area in the US is Namik KORMAN,
office at 1667 K Street NW, Washington, DC, telephone [1] (202)
887-6198

US diplomatic representation:
chief of mission: Ambassador Richard A. BOUCHER
embassy: corner of Metochiou and Ploutarchou Streets, Engomi, Nicosia
mailing address: P. O. Box 4536, FPO AE 09836
telephone: [357] (2) 476100
FAX: [357] (2) 465944

Flag: 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 Cypriot flag has a horizontal red stripe at the
top and bottom between which is a red crescent and red star on a
white field

Economy
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Economic overview: The Greek Cypriot economy is small and
prosperous, but highly susceptible to external shocks. Industry
contributes 25% to GDP and employs 26% of the labor force, while the
service sector contributes 70% to GDP and employs 62% of the labor
force. After surging 9.7% in 1992, economic growth slowed to 1.6% in
1993 - its lowest level in two decades - because of the decline in
tourist arrivals associated with the recession in Western Europe,
Cyprus' main trading partner, and the loss in export competitiveness
due to a sharp rise in unit labor costs. However, real GDP picked up
in 1994 and 1995, as inflation fell from 4.7% to about 3%. Economic
prospects appear favorable for 1996: real GDP is likely to grow
between 3% and 4%, and inflation is likely to rise slightly to
3.5%-4.5%. The Turkish Cypriot economy has less than one-third the
per capita GDP of the south. Because it is recognized only by
Turkey, it has had much difficulty arranging foreign financing, and
foreign firms have hesitated to invest there. The economy remains
heavily dependent on agriculture and government service, which
together employ about half of the work force. Moreover, the small,
vulnerable economy has suffered because the Turkish lira is legal
tender. Economic growth sharply