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Behavior Studies

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Submitted By abilea0
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Political Factors
Cyprus is a participant of the United Nations and its organizations which includes the Commonwealth of Nations, World Bank, International Monetary Fund (IMF) and Council of Europe. Furthermore, the island has agreed to sign the GATT agreement which stands for The General Agreement on Tariffs and Trade and the Multilateral Investment Guarantee Agency (MIGA) agreement
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Cyprus has historically followed a non-aligned foreign policy, although it increasingly identifies with the West in its cultural affinities and trade patterns, and maintains close relations with Greece. Turkey refuses to recognise the government of the Republic of Cyprus, arguing that the latter – as established by the Constitution of 1960 – ceased to exist when the inter-communal violence that broke out in December 1963 ended Turkish Cypriot participation in government. As a result, Turkey still refuses to allow Cypriot-flagged vessels access to its ports, despite pressure from the European Union.( A Resilient Economy,2015)

Cyprus Gross Domestic Product (GDP) prolonged 0.50 percent in the following quarter of 2015 over the past quarter.
Economic factor
The research made the CIA Factbook situates that according to the probabilities in the year 2011, 10.2 percent of the island’s exports and 9 percent of the island’s imports are over with the United Kingdom, hence, putting the UK in the 2nd leading export affiliate, thus, making Cyprus the third rank of import affiliate to the UK.
However, ever since the collapse of the Bank of Laiki, people became very conservative and their spending trends somewhat altered, although the food spending have not changed that much since it is essential. People would prefer to eat in than to eat out.

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