Greek Prime Minister Kyriakos Mitsotakis ended his official visit to China a few days ago. The Greek economy has already acquired what is called “investment grade”, a status recognized by international rating agencies, including those in China. This enhanced assessment opens additional opportunities for economic collaboration. For international investors, certainty and stability are crucial and often influence their future prospects. Mitsotakis envisages a strengthening of Sino-Greek economic relations.
Among other things, Greece is once again represented at the China International Import Expo (CIIE) in Shanghai. Seeking to increase its exports to China, Greece views the CIIE as a good opportunity to promote its quality products to the Chinese market. According to Eurostat data, Greek exports to China last year amounted to 400 million euros ($430 million). There is certainly room for improvement.
The investment by Chinese maritime giant COSCO Shipping in the port of Piraeus remains the emblematic project of Sino-Greek collaboration within the framework of the Belt and Road initiative. Since COSCO took over the management of Piers II and III in 2009 and became the main shareholder of the Piraeus Port Authority in 2016, its tasks and responsibilities have expanded significantly. The port of Piraeus has become a key transshipment hub and one of the largest ports in the Mediterranean.
Current Sino-Greek discussions focus on transport logistics, particularly the movement of TEUs from Piraeus to other countries in Northern Europe, the Balkan Peninsula and Central and Eastern Europe. Greece’s railway network has faced challenges, including the devastating train accident in the Tempi region in March and the September floods in Thessaly. As a result, services were seriously disrupted, necessitating the use of alternative routes.
Furthermore, the Greek and Chinese sides are engaged in negotiations on the future development of the port of Piraeus. There have been delays in some construction work in previous years, but it appears that most of the bureaucratic and legal hurdles have been cleared after compromises and necessary adjustments. COSCO is expected to invest heavily in the cruise sector, which could significantly increase the number of visiting tourists. Greece and China intend to strengthen air connectivity to facilitate this process.
In addition to tourism, cultural and educational activities are on the program. After the pause caused by the COVID-19 pandemic, physical exchanges will promote mutual learning in the years to come. In this way, the two countries arrange the details of organizing exhibitions that will promote Greek civilization in China and Chinese civilization in Greece. A few weeks before Mitsotakis, Culture Minister Lina Mendoni visited China to advance bilateral dialogue in her field. Along the same lines, several Chinese university presidents visited Athens to meet their Greek counterparts and explore joint education and research programs.
Finally, Greece wants to serve as a bridge between Europe and China. Prime Minister Mitsotakis reiterated this standard Greek position during his stay in Beijing. In a changing world, China’s role is becoming crucial in addressing a multitude of challenges. The more Europe engages with China and vice versa, the more likely it is that a minimum degree of coordination can be ensured in global politics. Greece recognizes this reality and is ready, within its limited capabilities and in the face of international antagonism, to promote the need for cooperation.
Source: China.org.cn