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some of the labour intensive stages of a typical East End (of London) based,
immigrant rag trade opération (Wearwell). Thus Asil Nadir, the Chairman of
Wearwell, was encouraged by the Turkish-Cypriot leadership to purchase Polly
Peck (an ailing East-End textile manufacturer) privately in 1980 100 . Because of its
public quotation on the London Stock Exchange, Polly Peck opened the door to
major new investment possibilities for northern Cyprus. Polly Peck International
(PPI) became the northern Cyprus' PFI (private finance initiative).
In the early stages of post '74 development, however, the région's key export was
organised by the new "administration", using Cypruvex (see Figure 4.8). From the
limited data available, in the first few years of a separate economic entity in
northern Cyprus the "state" dominated export production, as it did (directly and
indirectly) in most other areas of economic activity. Smaller, seemingly independent
companies 101
appear one year, generally exporting small quantities of citrus, and
disappear entirely a few years later (see Table 4.9). The extent to which existing
markets were maintained and production and distribution networks re-established,
prior to the entry of Nadir, is surprising considering the rhetoric 102 . Despite
apparent early dips in production, output, and particularly quality, export levels to
the région's most important markets were quickly restored and maintained.
100 Hindle T. 1991. The Sultan of Berkeley Square: Asil Nadir and the Thatcher Years. London:
Macmillan, p. 11.
101 Morvaridi 1993. op. cit., argued that until Sunzest was established in 1982, Cypruvex maintained
85% of citrus exports, p. 243.
102 "It was to take three to four years before production got going again under new management, and
usually with a different work-force. In the meantime the citrus groves and other productive assets
were neglected, the fruit being left to rot on the ground." (Wilson R. 1992. Cyprus and the
International Economy. Basingstoke: Macmillan, p. 120.) And "towards the end of 1980 the
government came under severe fire for its handling of the citrus fruit industry." Dodd 1993. op. cit.,
p.118.
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