Christos Anastasiades, LCCI Director, argues that the fundamental objectives of the Chamber are to defend and promote the interests of its members and to promote economic activity in the context of contributing to the economic and social development of Limassol. Mr. Anastasiades emphasizes the substantial benefits to derive from being a member of the LCCI and urges more companies to join as members.
Tell us something about the Chamber of Commerce as an institution and more specifically about the Chambers in Cyprus and in Limassol
The Chamber of Commerce & Industry, which is primarily aimed at supporting entrepreneurship, has a history going back several hundred years. Very probably the first of its kind was set up in New York, as early as 1768! The Cyprus Chamber of Commerce & Industry was established in 1927 and the one in Limassol in 1962.
What are the basic objectives of the Limassol Chamber of Commerce & Industry?
The Limassol Chamber came about as a result of a merger of two bodies that were already in existence back then (1962): the Commercial & Industrial Federation and the Limassol Development Association. This merger has determined the character and the objectives of the Chamber which continue to this day, as a body which supports entrepreneurship and more specifically its member companies, and also takes care of promoting the development needs of Limassol, both at city and district level.
Who are the members of the Limassol Chamber? How can one become a member?
Membership of our Chamber currently comprises some 700 companies which are either based in Limassol, have offices here or otherwise develop business activity in or from Limassol. In Cyprus, membership of the Chambers is optional. Any registered company, regardless of the nature of its activities, can apply to become a member. Yes, we are called the Chamber of Commerce & Industry but we are not strictly confined to these two sectors. Chamber members are nowadays classified in four categories: commerce, industry, services and tourism. For any company to register as a member, it is a fairly simple procedure of filling in and submitting a membership application form (which can be obtained either from our offices or from our website). Membership applications need to be approved by the Board of the Chamber, which also determines the annual membership fees.
Who are on the Board of the Chamber?
The Board, which is the policymaking body of the Chamber, comprises 20 elected members representing member-companies. From its members, the Board elects the President of the Chamber, as well as five Vice Presidents (one each from Commerce, Industry, Services, Tourism and Economy). By virtue of the Chamber Memo & Articles, the elected Board can also appoint a number of additional members (ex.officio members). The Board is elected for a three-year term and all members of the Chamber can vote and run for election on the Board.
Since membership of the Chamber is not compulsory, why should a company choose to become a member?
There are substantial benefits to be gained by being a member. Besides the feeling of actually belonging to the business community of Limassol, together with several hundred other companies, members have access to all information on issues pertaining to entrepreneurship. It should also be noted that the five local Chambers in Cyprus (Nicosia, Limassol, Famagusta, Larnaca, Paphos) jointly form a federation that is the Cyprus Chamber of Commerce & Industry, which is officially recognized as a social partner and has a consultative role in the formulation of government policy on issues that impact the entrepreneurial sector. Therefore, as a member of the Chamber, a company can make its voice heard in on such issues. Members also have the possibility of participating in Cyprus business missions overseas or meeting with incoming business missions from abroad and also attending educational seminars that cover a wide spectrum of issues of concern to the business sector. When it comes to exporters, whether those engaged in domestic exports or re-exports that require certificates of origin and legalization of documents, members are entitled to special prices. Moreover, members have the opportunity of networking with other enterprises, either in a targeted fashion or through events organized by our Chamber. And of course, there is the support and assistance extended to members on an individual basis with regard to a variety of issues concerning the day-to-day practice of enterprises....
Should one assume that members have your assistance regardless of the issues that they raise?
No, certainly not. We do not operate as a populist trade union. Neither would we be convincing where we have to be convincing, were we to promote individual claims regardless of their content. We evaluate what our members want and act accordingly. If one member comes up with a claim that is not justified, it cannot count on our support. Just to give you an example, let’s say the Chamber is called upon to make representations on behalf of a member who was rejected in its bid to secure assistance under a government support scheme. In a case like this, we need to investigate why our member failed. If it turns out that failure was due to non-compliance with the provisions of the specific scheme, then, obviously, we cannot agree with our member and all we can do is lend advice to ensure compliance when such schemes open again. There are cases like that but I must say that they are few and far between. In most cases the claims of our members are justified – and well-documented – and the Chamber always does what it has to, aiming to achieve what is best for the members.
Limassol hosts a large number of international companies. Can they become members of the Chamber?
Of course they can and indeed many of them already are members. I am pleased to inform you that our members include world-renowned international companies which are active in fields such as shipping and shipmanagement, banking and financial services, research & development. Another member of our Chamber, from the very first day of its establishment, is the Association of International Banks in Cyprus, which enjoys our Chamber’s secretarial and other support. Speaking of international companies in conjunction with the Chamber, it would be an omission not to mention that, since the beginning of this year, the Limassol Chamber premises have hosted a Russian Desk, set up by the Cyprus-Russian Business Association, run by a Russian-speaking officer and catering to the needs of Russian enterprises.
I imagine you would urge more companies to join is as members of the Limassol Chamber...
Yes, and it is not only that that there is strength in unity and the more members we have, the stronger our voice can be heard. The Chamber offers considerable services to its members and we would naturally want more companies to benefit from these services. At times, when we meet colleagues from other countries, where membership of the Chambers is compulsory, we are asked what it is like for a Chamber to operate in an environment where membership is optional. My opinion is that with optional membership, something is not quite right or, if you prefer, there is some kind of injustice for the members, in the sense that if Chamber representations in defence of entrepreneurship are successful, for instance, in effecting changes to a new law, that will benefit all enterprises, regardless of whether they are members or not. But, aside from that, optional membership provides a steadfast incentive for offering the best service to our members. The fact that there are some 700 companies which are members of the Limassol Chamber today, paying an annual membership fee despite the vast problems caused by the financial crisis, is surely representative of the work done by the Chamber. There are in Limassol companies that have been members of the Chamber for more than 50 consecutive years, others for 40 and others for 30, in addition to the relatively new ones. With membership being optional, it is abundantly clear that if these companies had not seen the benefits, they would have pulled out long ago. Therefore, yes, membership is to the benefit of companies and we are at the disposal of every enterprise and every entrepreneur to discuss their needs and expectations and explain how we can respond to them. I would like to take this opportunity to say that the Limassol Chamber, which is certified with ISO9001, is actively pursuing all available possibilities to offer additional and diversified services to its members, amongst others, by means of its concerted efforts to participate in entrepreneurship-related European programmes.
Is there anything you would like to add?
Yes! As far as Limassol companies that are not presently members of the Chamber are concerned, we would urge them to become members, for the reasons already mentioned. And of course we are always available to discuss with them any issue they wish and answer any queries they may have. As for companies that are already members, aside from our thanks for their trust in us, our message to them is to fully capitalize on their membership. They should never hesitate to get in touch with us and raise the issues are of concern to them. The Limassol Chamber is always on the side of its members; indeed, the Limassol Chamber is its members.
