Greece's Prime Minister Kyriakos Mitsotakis along with 60 business representatives went to China to solidify his country's trade deals with the People's Republic. They met with Chinese President Xi Jinping at the 2019 China International Import Expo and spoke about the opportunities for Greek exporters into the country.
The negotiations between Greece and China are near finalized after President Xi Jinping scheduled a visit to Athens. After the Chinese president met with Greek Prime Minister Mitsotakis, Athens-based political scientist George Tzogopoulos revealed that the Shanghai fair presented good opportunities for Greek exporters in China. However, he also noted that China is expected to present concrete proposals before both countries reach an agreement, reported DW.
Jinping's visit to Athens was presumed to be a signal that China and Greece have started negotiating trade deals. The Greek exports were given an average value of €1 billion per year but the businesses have to gear up and prepare for this possibility.
The state-owned enterprise (SEO) China COSCO Shipping also invested heavily in a port project in Piraeus. Once the deal finalizes, the company is expected to engage in a mass expansion. Beijing, on the other hand, also invested more than €800 million in the same industry and also plans to add €600 million after the agreement.
Greece is the first deep-sea port in the European Union. It is also where Asian shipping containers bound for the Eastern Mediterranean route arrive. Piraeus, in particular, also plays a significant role in China's Belt and Road Initiative. The major project aims at opening new trade routes to the West and the China-Greece trade deal may improve negotiations.
Greece also received less than 1 percent of all Chinese investments in Europe. Tzogopoulos then added that Greece's international creditors pressure their country to engage in privatization. He claimed that other European members are reluctant about the trade deal in fear of Piraeus developing into a competitive threat to ports in cities like Rotterdam and Hamburg.
Moreover, the South China Morning Post reported that China manifested its respect for European Union rules and standards. Last Friday, Premier Li Keqiang praised Greece for joining the EU-China Summit.
Li revealed that the joining of Greece showed China's strengthened ties with Central and Eastern European countries. The European Union is also the largest trading partner of China where both countries trade more than €1.5 billion worth of goods per day.
Li also raised that China's respect for the European Union's laws and standards is the country's way of manifesting their willingness to increase trade and connect its economy with European countries.
