Trade

China-Greece trade and economic relations have been developing very fast in the past few years. According to the statistics of China Customs, in 2003, bilateral trade volume has made a new record high of 1,188 million US dollars, with an increase of 51% over 2002, equivalent to 699 times that of the amount of US$1.7 million happened when two countries established diplomatic relation in 1972.

We are making tremendous efforts to promote Greek export of fertilizer, olive oil, marble, wine, etc to China. We have organized Chinese buying missions to visit Greek companies and we have also organized business meetings for the visiting Chinese business delegation and Greek companies in our Embassy or in the Hellenic-Chinese Chamber. Ours efforts are very fruitful since our bilateral trade volume has more than trebled in four years.

We believe that with signing of Tourism Agreement between China and EU, the service trade would be in great favor of Greek side. Chinese people feel deeply attracted and fascinated by Greek history and culture. We strongly believe that more Chinese tourists will come to Greece.

Greek investment in China

Until the end of 2003, Greek total direct investment in China reached US$ 102.53million, with 47 approved projects, and the accumulative utilization of Greek direct investment reached over US$ 27.47 million. The most important Greek investment projects in China came from S&B, Plastika Kritis, F.H.L. Kiriakidis Marble and Coco-mat etc. They all built the first foreign investment project in China in their fields. And since their investments are very fruitful, they all plan to expend their projects or to create new projects. From 2002 Drama Marmor Lazaridis is among the new Greek investors in China. We truly believe that investment is a very efficient way to promote export. According to our knowledge, China now is Greek N0.1 export market for marble, and the biggest growing market.

Chinese Investment in Greece

From Chinese part, we have three state owned companies establishing business here in Athens, all in the marine field, that is COSCO Shipping Agency, SKEPANS Seafarer Service S.A. and China Classification Service.

More than 800 Chinese shops restaurants are open now in Greece. They are private owned and they help the direct trade links between our two countries.

Although for the time being, the bilateral trade and economic co-operation

is not in a large scale yet, there is great potential for further development. Greece will host the Athens Olympic Games in 2004 and Beijing will be the host in 2008. There are huge opportunities and great potential for business cooperation.