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Sino-Hellenic bilateral business, trade, tourism and investment relations
"You are an old friend of China and place great importance on the development of bilateral relations. You see Chinese growth as an opportunity for Greece... We are willing to join hands with Greece to expand bilateral pragmatic co-operation in various fields, and promote further development of Sino-Greek all-round strategic partnership..." -- President Jintao Hu of China, speaking to visiting Greek Premier Costas Karamanlis in Beijing on the first day of a three-day official visit, at the invitation of Chinese Premier Wen Jiabao, on January 20, 2006 "We hope to enhance co-operation with China in the fields of shipping, energy, investment, tourism, culture and education... We are also willing to make positive efforts in lifting obstacles to Sino-European relations and promote overall development of Sino-European relations." -- Costas Karamanlis, Greece's Prime Minister, speaking to Chinese President Jintao Hu on the first day of a three-day official visit to China on January 20, 2006 This special section of INVgr focuses on the bilateral business, trade and investment relations between the Hellenic Republic (Greece) and the People's Republic of China. It also highlights the activities, investments and corporate actions of Greek companies, investors and entrepreneurs active in China or considering entering the Asian country. In addition, this on-line section focuses on major Chinese business activities, expansion plans and investments in Greece. Shipping, tourism, education, trade, export/import, marble, telecommunications, energy, olive oil, Olympic Games, bilateral relations, investments and cultural ties are some of the main sectors, products and issues of interest to INVgr's subscribers. To submit your company profile, press releases, announcements or other information you believe could be of interest to the INVgr's subscribers and business readers of this special section, please contact INVgr.
EU-China Partenariat 2006
Organised by the China Council for the Promotion of International Trade (CCPIT), the EU-China Partenariat 2006 will be held in Chengdu, China on November 9-10, 2006. It aims at providing business opportunities and creating long-term partnerships between European and Chinese small and medium-sized enterprises (SMEs) through pre-scheduled one-on-one matchmaking events. This EU-China Partenariat will be the first Partenariat to take place in a non-capital city in Asia and continues to enjoy the full support of the Chinese government. It also reflects China's willingness and confidence to engage in economic cooperation with EU member states. The Partenariat is a project under the Asia-Invest Program of the European Commission, started in 1997. The structure and focus of the new phase of Asia-Invest (2003-2007) reflects the shift in development aid policy conditions and priorities as well as the lessons learned from the implementation of the first phase. The new programme focuses in particular on improving the quality and quantity of matchmaking between European and Asian companies. It is expected that this new approach will mobilise a substantially larger number of European companies to travel to Asia (and vice versa) eager to experience the enormous opportunities and potentials for partnership offered by Asian markets through direct business contacts. Total EC project financing amounts to EUR 35 million over 5 years. Project co-funding from beneficiaries is expected to contribute an additional EUR 23 million. The Partenariat in 2006 will be the second Partenariat to be held in China. China's CCPIT is organising the EU-Partenariat for the second time after a successful EU-China Partenariat in 2002. The organisation is the most important and the largest institution for the promotion of foreign trade in China [more...] [on-line registration].
Ambassador of the People's Republic of China to Greece
"Focusing on China-Greece relations, I would like to highlight the great importance our two governments attach to bilateral cooperation and the fruitful results achieved in many fields. Although our bilateral economic and trade cooperation is not on a very large scale for the time being, it has been expanding very rapidly in the past few years and there is huge potential for future development. We have an excellent cooperation in the shipping sector. A large portion of Chinese cargo is transported by Greek ships. Last year [2004], we imported 110 million tonnes of crude oil, 80% of which was carried by foreign tankers and 80% of the 80% by Greek tankers. Every year, you [Greece] send over 100 ships to China for repairs. About 10% of your fleet was built by China. Tourism has become a new area of co-operation. Moreover, the first two Olympic [Summer] Games of the 21st century hosted by Greece and China have brought our two countries closer to each other. Mutual interest and mutual benefit has ushered in a golden period of cooperation and generated more opportunities for China and Greece. I firmly believe that in today's world, with peace and development as the main theme, so long as we increase mutual understanding, work hard together and explore aggressively the potential, the Greek people and the Chinese people will benefit from their ever-closer bilateral ties and find for themselves huge business opportunities. And I am confident that China-Greece relations will surely score greater achievements." -- Tian Xuejun, Ambassador of the People's Republic of China to Greece, addressing the Panhellenic Exporters Association's international conference in Athens on December 8, 2005 In an interview published in the Kathimerini daily on April 3, 2005, the Chinese Ambassador to Greece noted that tourism is a new field of co-operation, as the number of Chinese tourists abroad is increasing every year. Greece is making contacts with China in an effort to boost tourism from the world's most populous nation. As China's economy develops at a rapid rate, opportunities to increase travel and tourism increase substantially. The Chinese government is also encouraging large high-tech companies to invest in Greece; already two such multinationals in the telecommunications sector -- ZTE Corp. and Huawei Technologies -- have come to Greece. In 2004, the volume of trade between Greece and China was USD 1.47 billion (imports and exports), up 25% compared to 2003. This figure does not include services (shipping and tourism). Nevertheless, imports by far exceed exports to the Chinese market. Greece exported only USD 72 million (EUR 59.5 million) worth of products to China in 2004, but imported USD 1.7 billion (EUR 1.4 billion) worth of products and services from the Asian country. The Chinese government encourages enterprises to import Greek products, such as olive oil, wine, fertilisers, cigarettes, fruit, peanuts, and more. "I believe our Greek friends, the entrepreneurs, will have to boost the promotion of their products in China," the Ambassador concluded.
Greece, China promote closer ties November 1, 2006 -- Greece and China are forging closer economic and trade relations, Economy and Finance Minister George Alogoskoufis said yesterday. Alogoskoufis announced that a Chinese national carrier would begin direct flights between Athens and Beijing in the next few months and stressed that Greece's two largest ports, Piraeus and Thessaloniki, are considered transit cargo hubs between China and South-East Europe as well as the Mediterranean. His talks with Chinese officials in Beijing and Shanghai also focused on cooperation between the Athens Stock Exchange and the stock markets of Shanghai and Hong Kong. Alogoskoufis said the Hong Kong's commerce and financial service would soon open a representation office in Greece. Source: Greece's Secretariat General of Information.
Greece, China to boost shipping ties October 26, 2006 -- Greece and China are seeking to further improve their ties in shipping, visiting Finance Minister George Alogoskoufis said on Tuesday, October 24. "China has shown special interest in the creation of infrastructure, initially at the ports of Piraeus and Thessaloniki, for its transit goods to the Middle East, Europe, the Black Sea countries," the minister told reporters. "There is interest not only from Chinese companies in the creation of infrastructure in Greek ports, but also on the part of Greek shipowners for facilities at Chinese ports," he reported. Accompanying him, Deputy Finance Minister Christos Folias underlined that he saw opportunities for alliances in all sectors. "We proposed backing the creation of joint ventures in both countries between Greek and Chinese firms," he noted. "Chinese companies could employ Greece's strategic geopolitical position and back access for their products to Europe, especially in the rapidly evolving South-East European market," he said. Source: Secretariat General of Information.
Elais - Unilever SA moves into China October 25, 2006 -- ATHEX-listed Elais - Unilever SA, the Neo Faliro, Piraeus-based food and olive oil producer, has closed a deal for the introduction of its products into the Chinese market, while its discussions with Arab nations remain in the negotiations stage. As Rea Kartelia, the company's Export Manager, revealed, Elais - Unilever continues to give priority to quality control and product analysis that surpass to a great degree those required by international standards. Elais - Unilever also intends to further enrich its product line with new products that have new place names of origin, principally for distribution into the international marketplace. In addition, the company has plans for its packaged olives and it is likely that there will be changes in this product in the near future. Last month, Unilever announced a voluntary public offer for the outstanding shares of Elais - Unilever that are listed and traded on the Athens Exchange (ATHEX). The public offer is being made through the Greek subsidiary Unilever Hellas SA at a price of EUR 24.50 per share. Unilever already owns 67% of the 13,526,100 shares of Elais - Unilever. The intended acquisition of the outstanding shares of Elais-Unilever and the planned subsequent delisting from the ATHEX is in line with the 'One Unilever' strategy. Sources: Retail Today, a special daily newsletter for the food industry published by Athens-based Direction SA; INVgr.
China's COSCO and Greece's COSTAMARE form partnership August 25, 2006 -- China Ocean Shipping (Group) Co. (COSCO), which has expressed interest in taking part in possible plans to buy shares in ATHEX-listed Piraeus Port Authority SA (PPA), has recently christened MC COSCO Hellas.
On July 27 a ceremony was held at the container terminal of the Port of Piraeus to celebrate the new vessel. Greek Prime Minister Kostas Karamanlis addressed the attendees at the event. In January 2006, COSCO President and CEO Wei Jiafu (photo) discussed port investment when he met Greek Prime Minister, who was on an official visit to China. At the celebration event Capt. Wei reviewed the process for COSCO and Greek shipping company COSTAMARE to establish a partnership and gave an introduction on COSCO's business growth and future strategy. He also stressed that as a leading shipping company world-wide, COSCO will make continued efforts together with Greek shipping communities to further maritime links between China and Greece. In his speech, Prime Minister Kostas Karamanlis spoke highly of the efforts made by COSCO and COSTAMARE for the promotion of maritime relationship between the two nations. He also said that the Greek government will continue to support a mutually beneficial partnership between the two maritime communities. High-level officials from Greek government, executives from Greek shipping companies, leaders from business associations and Chinese diplomats to Greece attended the ceremony with some 500 guests. The Piraeus Port Authority handles almost 60 per cent of all Greek shipping. The chance to buy into ports was created with the privatization of significant ports in Greece, including Piraeus. The Thessaloniki Port Authority said COSCO Hellas has also expressed an interest in developing co-operative ties with the northern Greek port. Another firm, China Shipping Group (CSG), China's second-largest shipping company, is seeking facilities in the Greek port of Crete. COSCO President Wei Jiafu said earlier that port investment is a priority for the company's future expansion. Outside of China, COSCO has a 49% stake in a terminal in Singapore, a 25% stake in Belgium's Antwerp port and stakes in other ports in the United States. Source: ELKE.
PM Karamanlis meets with COSCO Group President Capt. Wei Jiafu
July 27, 2006 -- Prime Minister Costas Karamanlis yesterday met with state-owned China Ocean Shipping (Group) Co. (COSCO) President and CEO Capt. Wei Jiafu. The two men discussed matters related to the exploitation of natural resources, as well as the development of seaborne transport, aimed at rendering the Greek ports a basic transit hub in the South-East Mediterranean region . Capt. Jiafu said that ships would be built -- on behalf of COSCO -- at Greek shipyards. A direct link between the port of Piraeus with the Far East and China, was inaugurated in April aboard the Panama-flagged "River Elegance," the first COSCO container ship to dock at Piraeus, where it unloaded 580 containers at the port's container terminal. The use of Piraeus, the east Mediterranean's largest port, by COSCO was the result of the meeting between COSCO representatives and Mercantile Marine Minister Manolis Kefaloyannis in February and Karamanlis official visit to China in January where he had also met with Jiafu, during which meeting it had been announced that a container ship with a capacity of 9,500 containers would be routed within the year, and would be named M.V. COSCO Hellas. Source: ANA-MPA.
Prime Minister Costas Karamanlis meets COSCO Group President and CEO Capt. Wei Jiafu in Athens
July 26, 2006 -- Capt. Wei Jiafu, President and CEO, COSCO Group, paid a visit to Greek Prime Minister Costas Karamanlis on his trip to Athens today. During this meeting, Capt. Wei briefed Prime Minister Karamanlis on the businesses of COSCO container ships serving Greek ports, christening a new container ship as COSCO HELLAS, as well as enhancing partnerships with Greek maritime communities. Capt. Wei also expressed that, as the world's second-largest shipping company in terms of total fleet tonnage, COSCO will make continued efforts to materialise the proposals announced by the leaders of both governments to strengthen maritime co-operation. Prime Minister Karamanlis expressed his appreciation to Capt. Wei Jiafu for his efforts to promote bilateral co-operation between the two shipping nations and affirmed that the Greek government will continue to support an enhanced relationship between Greece and China. Chinese Ambassador to Greece Tian Xuejun and COSCO Group Vice-President Chen Hongsheng also attended this meeting. Source: COSCO Group.
Greece "Partner Country" at 2006 Beijing International Tourism Expo June 16, 2006 -- Greece is the "Partner Country" of this year's Beijing International Tourism Expo (BITE), which will take place at the Beijing Exhibition Centre, June 22-24. The fair will be formally inaugurated on June 21, while Greek Tourism Development Minister Fani Palli-Petralia will inaugurate the Greek pavilion the following day. The Greek Tourism Development Minister will be meeting with China's Sports Minister Liu Peng and Chinese businessmen, while she is also scheduled to sign a bilateral agreement with her Chinese counterpart, Shao Qiwei. Within the framework of BITE, a concert with "the songs of love and romance" written by world-famous composer Mikis Theodorakis will be given at the Music Hall in Beijing's Forbidden City on June 22, the Greek minister announced. The performance will be given by Greek singers Nena Venetsanou, Nikos Kouroupakis, Zahos Terzakis and Julia Souglakos, and accompanied by the Mikis Theodorakis Orchestra, with the assistance of a Chinese symphonic orchestra and opera choir. Source: ANA-MPA.
Greece-China: Economic and Trade Partners for the Future
When? May 23, 2006 (12:00-18:00)
Intralot SA sees Eden in the East
The gaming company is eyeing acquisitions in China, a lottery bid in Turkey and has landed a EUR 35 million contract in Taiwan April 21, 2006 -- Intralot's shares rose last week amid news that the [ATHEX-]listed gaming subsidiary of Intracom is to get a foothold in the Far East. Intralot's CEO Constantine Antanopoulos told the Athens News that Asia is a priority for development. It is especially interested in buying gaming firms in China. Targets should be "small and smart", he said, using Intralot's existing presence in Turkey as a case in point. Intralot's operations in Turkey began with local players in which they jointly established a successful lottery company, Inteltek. "The gaming market is really beginning to open up in China," he said. Changes are planned in sports betting and gaming machine law in China, Antonopoulos explained. Hong Kong-based analysts confirm regional markets could yield investment prospects for the private sector. "There has been a lot of talk in the last couple of months, about private companies setting up and applying for gaming licences in China," one such analyst told this newspaper. A Deutsche Bank research report said that new regulations are set to support games such as the local Keno as well as video-lottery machines. There is a possibility that the Chinese government might double the payouts on lotteries, which could in turn potentially double sales. China's lottery market is strictly controlled by the government, and foreign investors cannot participate in their own right in offering lottery games or software at present. Rumours were also confirmed last week that Intralot has landed a new contract in Taiwan. On April 19 it announced that it has been selected as the preferred bidder by China Trust Commercial Bank (which is licence holder for Taiwan lottery) to provide the IT system, terminals and maintenance services for the local lottery. The project runs over seven years and amounts to EUR 35 million of revenue for Intralot at the first phase alone. Source: Athens News.
Intralot joint venture lands 7-year, EUR 35 million project in Taiwan April 19, 2006 -- A joint venture including ATHEX-listed Intralot SA was chosen by Chinatrust Commercial Bank (CTCB) as the preferred bidder for the provision of a lottery information technology system, along with the necessary maintenance services, for the operation of Taiwan's Public Welfare Lottery. In December last year, the banking unit of Chinatrust Financial Holding Company, the largest retail bank and credit card issuer in Taiwan, won the right to operate the public welfare lottery in Taiwan from 2007, after making a TWD 2 billion bid for yearly contributions to the government. CTCB then chose a joint venture comprised of Intralot, Firich Enterprises Co., Ltd. of Taiwan, and FDS Networks Group Limited of Hong Kong. The latter, a regional IT network solution and service company that provides a vast range of specialty products throughout the Asia-Pacific region, is listed on the Singapore Stock Exchange. In a statement sent to the Athens Exchange, Intralot announced the duration of this new project, worth approximately EUR 35 million, to be seven years. The agreement is subject to the Taiwanese Ministry of Finance's approval. The project involves the supply, implementation and maintenance of the core gaming system, software and equipment. Intralot will install and support its LOTOS O/S On-line and Instant Gaming Computer System, and will provide 8,000 CORONIS full-function terminals in retailer locations across the region -- 5,000 of these terminals will be installed during the initial stage of the contract. Firich Enterprises and FDS Networks Group will provide other IT services. Intralot may also participate in CTCB's corporate plan for the administration and operation of the Public Welfare Lottery for the next seven years. This will be upon invitation by the CTCB and in accordance with the relevant provisions of the RFP. Co-operation between the two parties may also be extended to sports betting games, provided that their conduct is approved by the local government. Intralot has committed itself to delivering significant value to the Public Welfare Lottery in order to attract new players, increase the participation of existing players and maximise revenues of the Public Welfare Lottery for the good of the citizens of Taiwan. Significant emphasis will be placed on increasing the games' sales and thus the size of the local gaming market through the development of new games. Intralot estimates the Taiwanese gaming market to be worth approximately EUR 3 billion.
In a statement released by Intralot, Constantinos Antonopoulos, its CEO, said: "We would like to thank Chinatrust Commercial Bank for awarding Intralot this important project, which proves that Intralot, through its full range, integrated series of products and services, may be an agent of change in the context of the large privatisation schemes, which take place world-wide. Intralot's presence in the Taiwanese market, one of the most considerable world-wide and one of the most significant on the continent, will be the 'vaulting horse' for its further expansion into the Asian market, the biggest in the world." About Intralot Listed on the Athens Exchange since November 3, 1999, Intralot SA is an affiliate of the Intracom Group. Intracom is considered one of the largest technological companies in Europe and among the top-100 fastest-developing companies globally. Based on the Group's expertise in information technology and telecommunications, Intralot has developed a flexible and comprehensive on-line lottery environment that covers all gaming, wagering and logistical requirements of a modern lottery organisation. Intralot is actively involved in the management and operation of Lottery Organizations. It has been awarded exclusive licences to implement and operate lotteries on behalf of authorities in a number of jurisdictions. The company has been successful on the basis of its flexible technological platform and the particular attention it places on gaming content. Most importantly, being an operator has afforded Intralot valuable insight in the real-life concerns faced by a Lottery Organisation. As the operator of a National Lottery, audited by the government and remunerated through a percentage of revenues, Intralot has first-hand experience of the difficulties confronting a lottery operator. Intralot has faced issues and derived solutions to problems beyond the usual domain of a lottery supplier. Intralot considers the Asia Pacific region to be an emerging market and is top listed in the company's targeted markets. Intralot has already established a business office in Beijing. Sources: Intralot, INVgr. TWD: New Taiwan dollar, also known as NT$.
Update on Sino-Hellenic trade, investment, tourism and shipping relations March 31, 2006 -- Since China and Greece established diplomatic relations on June 5, 1972, there has been a favourable development in relations between the two countries. In January 2006, Greek Prime Minister Costas Karamanlis paid an official visit to China, where the Greek Premier and his Chinese counterpart signed a Joint Declaration for the establishment of a Comprehensive Strategic Relationship between the two countries. Trade At the start of diplomatic relations the trade value of the two countries registered a mere USD 1.6 million; recent years have witnessed an increase of trade. In 2001, bilateral trade reached USD 752.3 million and in 2002 rose to USD 787 million, of which the Chinese export value came to USD 732 million and imports were USD 55 million. China exports to Greece include textile goods, light industry products, ships and vessels, electric appliances and toys and major imports are composite fertiliser, marble, medicinal raw materials, and aluminum. The economic and technological cooperation of China and Greece has always centered on shipping. During recent years the number of Greek vessels repaired in China reached an average of over 100 per year. In Greece, the cargo sea-shipping business China undertook reached a yearly turnover of USD 4 million. The COSCO, China Mariners Technical Service Corporation and China Ships' Classification Society have established offices in Greece. In an interview with Greece's Kathimerini newspaper, Tian Xuejun, the Chinese Ambassador to Greece, said: "The year 1978 was an important one for China. It was when China applied for the first time a policy of reforms and exposure to the outside world; the changes were immense. China's gross domestic product rose by an average 9.4% between 1978 and 2004, from USD 147.3 billion to USD 1,580 billion. Its volume of trade went from USD 20.6 billion to USD 1,150 billion and its currency reserves from just USD 0.16 billion to USD 609.9 billion.
The Ambassador said: "Shipping is one of the key sectors of the Greek economy and the two countries' co-operation. I understand that about 100 Greek ships go to China every year for repairs and that 10% of the 4,000 Greek vessels over 500 tonnes were built in China." The Ambassador cited an example of the two nations' co-operation: "Some 65% of the 110 million tonnes of oil China imported in 2004 were shipped by Greek-owned vessels." As China's economy is growing at a breathtaking pace of 9%, being the world's third-greatest exporting power, it will inevitably require the services of Greek carriers, which constitute 20% of the global fleet. The Chinese also have a great interest in the building and maintenance of Greek ships, as well as their staffing, according to the Ambassador. The Chinese government encourages large high-tech companies to invest in Greece; already two such enterprises in the telecommunications sector (ZTE Corp. and Huawei Technologies) have come to Greece and their first steps have been strong. In 2004, the volume of trade between Greece and China was USD 1.47 billion (imports and exports), up 25% year-on-year. The Chinese government encourages enterprises to import Greek products, such as olive oil, wine, fertilisers, cigarettes, fruit, peanuts and more. Ambassador Tian said "I believe Greek entrepreneurs will have to boost the promotion of their products in China," noting that tourism is a new field of co-operation, as the number of Chinese tourists abroad is increasing every year. Greece's main imports and exports for the first half of 2004, according to the figures issued by the country's National Statistical Service in November of the same year and covering the period January-June, are as follows:
Source: National Statistical Service of Greece (NSSG), November 2004. Greek foreign direct investments (FDI) According to the Chinese Ministry of Commerce, Greek investments from 1992 to late September 2004 amounted to a total of 49 investment projects, with total contracted capital of USD 1.10 billion and investments realised to the tune of USD 58.49 million.
Primary areas of interest for Greece include marble, mining of raw materials, plastics, metal industry, and clothing. Tourism An ADS agreement has been reached which, effective September 1, 2004, allows Chinese tourists to visit Europe for the purposes of tourism (Schengen area). Tourism officials from both countries believe that there is a significant potential to develop tourism between the two countries in the near future. Source: ELKE in co-operation with the Chinese Embassy in Athens.
Greek Prime Minister's visit to China marks a new era in Sino-Greek relations By Costis Stambolis in Shanghai January 27, 2006 -- Although he stayed less than three days in China during his official visit last week to the world's most populous nation (estimated population of 1.3 billion), Greek Prime Minister Costas Karamanlis, accompanied by his wife Natasha, made new inroads into Sino-Greek relations. The trip highlighted the fast-growing business and trade relations between the two countries as well as Greece's contribution to the Beijing 2008 Olympic Games. As was evident during the Greek Premier's trip, the Chinese leadership has appreciated Greece's longstanding position favouring the One China policy and its open-door trade policy, together with Athens' support of Beijing's forthcoming Olympic Games. Greece's diplomatic support of China regarding Taiwan has been reciprocated by China's attitude on Cyprus and the Aegean Sea continental shelf issues with Turkey. Karamanlis, who was accompanied by Foreign Affairs Minister Petros Molyviatis and other senior members and a group of 31 businessmen, was warmly received by Chinese Premier Wen Jiabao and President Hu Jiantao. Karamanlis met with Liu Qi, Secretary of the Beijing Municipal Committee of the Communist Party of China and President of the Beijing Organising Committee, to discuss 2008 Games co-operation. Greece is providing technical support to Beijing, and a number of senior Athens Olympic Committee officials have signed contracts with the Beijing Organising Committee for technology and security. Following discussions between the Greek and Chinese delegations headed by Karamanlis and Wen Jiabao, the two Premiers signed a first joint declaration towards establishing a "comprehensive strategy partnership" making new commitments to further consolidating bilateral ties. "This demonstrates that Sino-Greek relations have entered a new development stage and are expecting further achievements," said Premier Wen Jiabao after the signing, which the Chinese leadership called a "historic" agreement. The two leaders sealed the strategic pact after a one-hour closed-door meeting and witnessed the signing of another four accords aimed at opening more paths for trade, investment and cultural co-operation. So far China has signed a limited number of such agreements with European Union countries, Portugal, Spain, Italy and France. Greece expressed support for lifting the EU arms embargo on China, "taking into consideration the overall strategic relationship between [the] EU and China". The four specific agreements that were signed during Karamanlis' visit include:
Informal accords The countries also agreed to use Greek ports as hubs for Chinese ships transporting their products into Europe. As of April 11, freight vessels from China will be stopping to unload their goods in Piraeus on a monthly basis, with Cretan ports to be added this year. Greek tourism is also likely to benefit from the new strategic partnership agreed with China, with 22 million Chinese tourists visiting Europe every year. Leaders discussed in some detail direct flights between Athens and Beijing. Other considerations include Greek agricultural products, especially olive oil and wine, the launching of cultural activities and co-operation on environment and renewable energy sources. Greek shipping is also expect to play a critical role in the further expansion of the Greece-China economic and trade relationship. According to the joint declaration, the two countries are committed to furthering co-operation in harbour administration and the shipping industry. Some business executives with experience in trade with China say that shipping is Greece's most valuable asset in the bilateral relationship. Greek shipowners are currently transporting 65% of the 15 million tonnes of crude oil and products that China imports every year. At the same time Greek shipping businesses have on order from Chinese shipyards approximately USD 4 billion (EUR 3.3 billion) that are to be handed over in the next three years. Greek investments in China have doubled recently but still remain at low levels. Hellenic Centre for Investment (ELKE) figures show that in 2004 Greek companies invested EUR 140 million compared to EUR 72 million the previous year. Source: Athens News.
Tourism Development Business Forum to be held in Beijing, June 23
Highlighting investment opportunities and incentives on offer in Greece January 24, 2006 -- The International Herald Tribune (IHT) is inviting a select group of senior leaders, investors and policy formers to participate in a series of business forums on tourism development opportunities in Greece. This Tourism Development Business Forum series will be held in London, New Delhi, Dubai, New York, Berlin, Paris, Moscow and Beijing. Each event will explore how the investment environment in Greek tourism has changed, highlighting a range of opportunities and the new incentives on offer. Oxford Analytica will provide a briefing covering the outlook for the Greek economy and Greek politics, the investment climate and change in the legal framework. A special address is expected to be made by Greece's Minister of Tourism Development, while presentations will be made by senior officials, experts and advisers. These exclusive events are being held under the aegis of the Hellenic Ministry of Tourism Development and the National Tourism Organisation of Greece (GNTO), and will be invaluable to both existing and potential investors in tourism. Attendance is by invitation only, with no fee to attend; each forum will include a working lunch. Tourist arrivals in Greece Tourist arrivals were up 16% in 2005 with tourism revenues expected to record a 16-17% growth rate this year, Avramopoulos said. According to the Tourism Development Minister, Greece is moving forward with an integrated strategic growth plan in tourism and stresses that foreign tourism offices have been transformed into small headquarters at the heart of international tourism developments. The London office promotes investment opportunities in Greece, the Paris office promotes cultural tourism, the Frankfurt office promotes group travel and the Milan office acts as an administrative hub to absorb community funds. For further information, contact INVgr.
Prime Minister Karamanlis visits Shanghai, urges tightening of Greek-Chinese commercial ties
January 21, 2006 -- Greek Prime Minister Costas Karamanlis called for tightening of Greek-Chinese commercial relations, noting that there is room for improvement, during a speech he delivered at a business conference in Shanghai today. "I strongly believe that there is much room for further development of our economic ties. My visit here is the result of economic diplomacy efforts that were launched a while ago, but also the beginning of a co-operation, which we believe will bring significant and mutual benefits for both sides," Karamanlis said at a Greek-Chinese business conference in Shanghai. Within this context, the Greek government's goal is to increase exports of Greek products and services to China, to encourage bilateral co-operation and to attract Chinese investors, he said. He cited the advantages of post-Olympic Greece, a stable environment, infrastructure, tax reform, the new development law and the country's strategic location as incentives. Referring to the various economic sectors wherein bilateral co-operation would be beneficial, Karamanlis cited shipping, noting that the Greek government encourages the building of Greek ships in China and is trying to ensure that the Greek commercial fleet is the preferred choice for the transport of Chinese goods in international markets. Energy is another sector for possible cooperation, according to Karamanlis. "The promotion and execution of major international works have made Greece into an energy hub, providing more opportunities for Chinese investors interested in becoming active in the Balkan region," he said. As for tourism, "our goal is to attract a significant number of Chinese tourists to Greece," Karamanlis noted, adding that Chinese citizens' increasing interest in travel "is a major challenge for the Greek tourism industry." He also appealed to Chinese importers, stressing the value of Greek agricultural products, such as wine, fresh produce, dairy products and olive oil. "The superiority of internationally-acclaimed Greek agricultural products is the best guarantee for Chinese importers," he added. The Greek Premier also referred to the ongoing co-operation between the two countries, as Greece is helping China prepare for the 2008 Beijing Olympic Games. "I therefore invite you to focus your investment interest in the Greek market, where you can easily find suitable local partners which can then lead to profitable joint ventures," Karamanlis concluded. After his speech, Karamanlis met with the Mayor of Shanghai, who hosted a luncheon in the the Greek Premier's honour. Karamanlis wraps up official visit to China Karamanlis wrapped up his official three-day visit to China with visits to Shanghai's Oriental Pearl Television Tower, the tallest TV tower in Asia, and the city's exhibition centre. The Greek Premier enjoyed views of the city from the 468-metre-high tower, a notable Shanghai landmark in the booming Pundong business area overlooking the Huangpu River. Earlier today, during his visit to the exhibition centre, Karamanlis saw models of the city's planned development projects and infrastructure works. Speaking to reporters this morning, he expressed satisfaction with his visit and predicted that positive results in the sectors of shipping and tourism will be imminent. Karamanlis said he was pleased with the talks he had with China's political leadership, stressing that the discussions were all based on concrete plans for closer bilateral co-operation on both an economic and commercial level. As for Greek agricultural products, Karamanlis said that much effort, perseverance and consistency are needed for Greek products, such as olive oil, to 'conquer' the Chinese market. Sources: ANA, INVgr.
PM courts China trade Deputy Foreign Minister Evripidis Styliandis speaks about the main objectives of Karamanlis' visit to China
By George Gilson January 20, 2006 -- Prime Minister Costas Karamanlis may have paid the customary visit to the Great Wall of China during his official visit to Beijing and Shanghai between January 18 and 21, but his trip was coearly aimed at breaking down trade barriers between the tow countries. In an exclusive interview with the Athens News, Deputy Foreign Minister Evripidis Stylianidis outlined the 15-page joint statement signed by Karamanlis and Chinese counterpart Wen Jiabao, which aims to develop co-operation in the fields of trade, shipping, manufacturing and tourism. "The Chinese want to enter the EU market to China to be analogous with the opening of the Chinese market to Greek products," Stylianidis noted. While the joint statement is something of a wish list of areas for future co-operation through which Athens hopes to garner substantial economic benefits -- rather than the framework for co-operation trumpeted by the pro-government press -- the Greek government harbours greater expectations that it can lead to specific memoranda of understanding in a number of key areas. Karamanlis was accompanied by 30 businessmen, including the Technical Chamber of Greece (TEE), as major Greek construction companies hope to grab a chunk of the Chinese market, from Olympic projects to planned industrial "development zones" that will include worker housing. The declaration begins with a series of political declarations, with the Chinese expressing support for Greek positions on the Cyprus issue and Athens supporting Beijing on its "one China" policy, the lifting of an EU arms embargo on China under the EU's conditions, and the granting of "Market Economy Status" to Beijing, with trade privileges. Topping Karamanlis' economic aims, as expressed in the joint declaration, is the connection of Greece and Chinese ports, so as to make Greece a key gateway for the entry of Chinese products into the EU. Stylianidis says Chinese capital would be used to develop the infrastructure at Greek ports, from Piraeus to Tymbaki in Crete and Ionian Sea ports. Secondly, Greece hopes to bolster its exports to China -- from the current level of USD 72 million annually (versus USD 1.7 billion in imports from China), chiefly with the export of primary products such as olive oil and fruit -- and to develop joint business ventures and attract Chinese capital to Greece. Currently, the Greece-China trade balance is 1:22, and Athens hopes to get its share of the USD 3 trillion pie from China's projected import of primary products in the next five years. For example, Stylianidis believes China can be a good market for Greece's 400,000 tonne annual production of top-quality olive oil, of which only 13,000 tonnes are exported. He says many Chinese are beginning to include olive oil in their diet. In the area of shipping, the agreement aims to develop the shipping of Chinese products to Europe with Greek ships and to build more Greek ships to Chinese shipyards. Stylianidis notes that Greek shipowners have ordered 100 ships from Chinese shipyards in the last three years. "In exchange for that, we hope to secure the transport of Chinese products to the international market with Greek ships and the designation of Greece as a portal of entry of Chinese products to the Balkan and European markets," Stylianidis says, noting this will lure investments to at least four ports. "The Chinese would invest in the infrastructure of Greek ports on those aspects they wish to utilise," he says. Another grand idea is to set up plants in Greece, with both Greek and Chinese capital, where Chinese products would be assembled or finished before hitting the European market, with Greece's EU quality certification. "With a computer or car made in China, the mounting could be done in Greece. So the product would keep its competitive price advantage but get the 'made in Greece' quality sticker, enabling it to enter the EU more quickly. This way we both attract Chinese investment and create jobs," Stylianidis suggests. While the dumping of illegally imported, inferior-quality but cheap Chinese products in Greece has enraged merchants and manufacturers, who see unfair competition, Stylianidis says the problem can be transcended with a bilateral agreement between the two countries' standardisation agencies establishing common standards. Athens has presented Beijing with a draft accord which would check for quality and health standards at Greek ports and is pushing for a memorandum of understanding on issues related to small and medium-sized businesses. "Karamanlis will encourage such agreements that limit illegal trade, check quality, and open the door for Greek products in China," said Stylianidis. In tourism, Greece hopes to attract a larger chunk of the 22 million Chinese tourists that visit Europe each year. While only 120,000 Chinese visited Greece in 2005, the volume of tourists is growing at a rate of 13% annually. The Greek government hopes that the Beijing Olympics can be used to multiply that number by making 2008 a "Greece in China" year, and Tourism [Development] Minister Dimitris Avramopoulos plans to visit Beijing soon after Karamanlis' trip. Greece has opened a consulate in Shanghai and plans another in Canton to facilitate the issuance of visas, as Chinese often must travel thousands of kilometres for a visa, which requires a personal interview. As for human rights in China, Karamanlis will not trouble his hosts with such matters. "It is not something which the Greek PM has on his agenda for discussion," Stylianidis added. Source: Athens News.
Greek, Chinese PMs sign Joint Declaration on bilateral comprehensive strategic relationship January 20, 2006 -- Greece and China yesterday signed a Joint Declaration calling for the establishment of a Comprehensive Strategic Relationship between the two countries, following talks in Beijing between visiting Greek Prime Minister Costas Karamanlis and Chinese counterpart Wen Jiabao. Karamanlis, who arrived in Beijing on Thursday morning (local time) on a three-day official visit, met later with premier of China's state council Wen Jiabao, with whom he reviewed the course of bilateral relations, after which they signed the Joint Declaration. The Greek prime minister said the Comprehensive Strategic Relationship reflected the level of Greek-Chinese bilateral relations and set out the framework for future co-operation between the two countries, both in the political as well as in the economic sector. Also signed was a Memorandum for the establishment of a standing Business Forum and co-operation in the field of SMEs, while the two premiers further agreed on matters concerning the merchant shipping, tourism, culture and agricultural sectors. The visit is considered of important from both a political and economic viewpoint and Karamanlis is accompanied by foreign minister Petros Molyviatis, minister of state and government spokesman Theodoros Roussopoulos, deputy foreign minister Evripidis Stylianidis, and a large business delegation. In addition to promoting Greek agricultural products -- such as olive oil -- on the vast Chinese market and co-operation in the sector of construction and know-how, the Greek government is also interested in attracting Chinese investments to Greece, as the country is strategically placed to serve as a springboard for Chinese entrepreneurs to Europe and the wider Balkan region. In statements to the press after his meeting with Wen, the Greek premier referred to the relations between the two countries and outlined in detail the agreements signed. Karamanlis said he had accepted with particular pleasure Wen's invitation to visit China, noting that "our countries, as cradles of ancient civilizations, have a very strong common point of reference", while at the same time they were bound by "ties of friendship that are constantly developing". Recently, he stressed, a systematic effort was taking place to give new impetus to those relations with, inter alia, Athens 2004 Olympic Games host Greece's "passing on of the baton" to China for the Beijing 2008 Games as the springboard. Karamanlis said he had an exceptional meeting with the Chinese premier, with whom he examined bilateral relations in depth and exchanged views on international and regional issues of mutual interest. "We ascertained that our political relations are built on strong foundations, but we also pinpointed substantial margins and prospects for further expansion and deepening of our co-operation," he said, adding that "for this purpose, we signed a Joint Declaration on establishing a Greece-China Comprehensive Strategic Relationship, which reflects the level of our bilateral relations and sets out the framework of our future co-operation, both in the political and the economic sectors". "Particularly with respect to the development of our economic and commercial relations with China -- on which, as you know, we place great significance -- very important steps were made today," Karamanlis said. He explained that the two sides had signed the following accords:
Regarding the mercantile marine sector, Karamanlis continued, "we agreed to boost the co-operation among the ports and shipping enterprises of our countries, and also to utilise our ports as transit centers for our products to neighbouring countries". Emphasis was also placed on the need to strengthen tourism, with the mutual provision of the necessary facilities and with the introduction of a direct air link between Athens and Beijing as soon as possible, Karamanlis said. Another sector conducive to special co-operation between the two countries was China's preparations for the Olympic Games to be hosted by Beijing in 2008, he said. "We have already signed a Memorandum of Co-operation between the Beijing Organising Committee for the Olympic Games [BOCOG] and the Greek Ministry of Public Order. With the Premier [Wen] we agreed to intensify the already existing co-operation," Karamanlis said. Finally, Karamanlis particularly stressed the signing of a Memorandum for the organisation of a "Cultural Year of Greece" in China in 2008, the year of the Beijing Olympics, "when the attention of the entire world will be turned to this country". This decision, the Greek premier added, "is an exceptional honor for us", with multiple benefits for Greece's projection internationally. "I wish to stress once again the particular importance of my visit and to thank the government of China for its warm reception and hospitality," the Greek premier concluded. Earlier, Karamanlis met with BOCOG President Liu Qi, who is also Secretary of the Communist Party of China (CPC) Beijing Municipal Committee, a member of the CPC Central Committee Politburo and former mayor of Beijing (1999-2002). Today, January 20, Karamanlis will be received by Chinese President Hu Jintao. He will later depart for Shanghai, to join a large Greek financial and business delegation. Source: ANA-MPA.
Chinese mass media give great publicity to PM's interview with New China state-run news agency January 20, 2006 -- China's mass media, particularly in the area of Beijing, are giving great publicity to the recent exclusive interview given to the Xinhua (New China) state-run news agency by Prime Minister Costas Karamanlis on Greece's intention to upgrade its relations with China, during his official visit to this country, with the conclusion of a "total strategy co-operation" relation. Karamanlis said that this will constitute a "milestone in bilateral relations and will set the framework for strengthening future co-operation [between Greece and China]." Speaking about economic relations between the two countries, the Greek Premier stressed the "great possibility of development, among others, in the sectors of trade, shipping and tourism." Focusing on the issue of foreign investments, Karamanlis underlined Greece's ability to attract investment capital from other countries, including China, thanks to its "geographic advantages", since it lies in the rapidly-developing region of South-East Europe. Karamanlis also noted the creation of a "flexible and effective market" in Greece which "looks forward to the welcoming of foreign investors from all over the world and from China in particular." Finally, referring to the Olympic Games, the
Prime Minister told the Xinhua new agency of Greece's intention "to help in every way" the
Chinese government to hold successful Games which will reflect the long history and the wealth of Chinese culture, as well as the economic and political power of China in the modern world.
Greek Premier on three-day official visit to Beijing January 20, 2006 -- Greece's Prime Minister Costas Karamanlis today described his visit to Beijing as a "landmark in Greek-Chinese relations," after a meeting with President Jintao Hu of China, which wound up the Greek Premier's series of contacts in the Chinese capital. Karamanlis arrived in Beijing yesterday morning for a three-day official visit, at the invitation of Chinese Premier Wen Jiabao, considered to be of significant political and economic importance. He is accompanied by Greek Foreign Minister Petros Molyviatis, Minister of State and government spokesman Theodoros Roussopoulos, Deputy Foreign Minister Evripides Stylianidis and a large business delegation. "You are an old friend of China," Hu told Karamanlis upon arrival for their meeting, "and place great importance on the development of bilateral relations. You see Chinese growth as an opportunity for Greece," The Greek Premier responded by saying that although the two countries differed greatly in size and population, their long histories and ancient civilizations were a common element. Hu also lauded the outcome of Karamanlis' meeting on Thursday with Chinese counterpart Wen Jiabao, during which the two Prime Ministers signed a Joint Declaration calling for the establishment of a Comprehensive Strategic Relationship between the two countries. Since the establishment of diplomatic ties in 1972, the two countries have built up sound relations on the basis of mutual respect, equality and mutual benefit, Hu said.
Karamanlis met later with Chinese Premier Wen Jiabao, with whom he reviewed the course of bilateral relations, after which they signed the Joint Declaration on establishing a Greece-China Comprehensive Strategic Relationship, as well as several other memoranda in the economic and business sector. After his talks with the Chinese President, Karamanlis said "we ascertained that the present excellent relations between our two countries are based on a strong foundation, which we should utilise, and on mutual deep respect for the history and civilisation of the two peoples". He said that they reviewed bilateral relations, and noted the "prospects for further strengthening of our cooperation at all levels, and chiefly in the sectors of business, commerce, merchant shipping and tourism". Turning to political matters, Karamanlis stressed that the two countries were working closely in the UN Security Council, adding that they had identity of views on many issues. Regarding the Cyprus issue, Karamanlis expressed appreciation for the Chinese President's stance. Karamanlis further reiterated the Greek positions on matters of concern to China. "Regarding the issue of Taiwan, I reaffirmed our firm position in favour of the one-China principle and our antithesis to the independence of Taiwan," he said. On the question of lifting the EU arms embargo on China (which was imposed after the 1989 massacre of student activists in Tienanmen Square), Karamanlis expressed the Greek government's positive view, but noted that the embargo was slated to be lifted when the work on specific elements of the code of conduct (a strengthened code of conduct on all EU arms sales that would replace the ban) was completed. Karamanlis further endorsed a Chinese request that the EU extend "market economy" status to China, adding that he had expressed his understanding, but had also stressed that "for this purpose, under EU legislation, required is the fulfillment of certain technical matters and a relevant proposal of the European Commission". He said that the Greek government supported the relevant dialogue and would actively contribute to the prospect of granting China "free market" status as early as possible. According to diplomatic sources, Hu placed particular emphasis on maritime issues during his talks with Karamanlis, while with respect to tourism matters, he told the Greek Premier that he encourages Chinese to travel to Greece. Karamanlis also referred to Greek agricultural products, particularly olive oil, as well as the prospects for strengthening bilateral relations in the cultural sector as well, taking advantage of the organisation of the 2008 Olympic Games in Beijing. In addition to promoting Greek agricultural products -- such as olive oil -- on the vast Chinese market and co-operation in the sector of construction and know-how, the Greek government is also interested in attracting Chinese investments to Greece, as the country is strategically placed to serve as a springboard for Chinese entrepreneurs to Europe and the wider Balkan region. In his talks with Wen on January 19, Karamanlis also discussed co-operation in the shipping sector, tourism and further boosting cooperation linked to China's preparations for the 2008 Olympic Games in Beijing, while a Memorandum was signed for the organisation of a "Cultural Year of Greece" in China in 2008. Karamanlis also met Thursday met with the president of the Beijing Organising Committee for the Games of the XXIX Olympiad (BOCOG), Liu Qi, who is also Secretary of the Communist Party of China (CPC) Beijing Municipal Committee, a member of the CPC Central Committee Politburo and former mayor of Beijing (1999-2002). The Greek Premier was slated to leave later in the day for Shanghai, where he would address a Chinese-Greek business conference on Saturday, January 21. In what has become a trip that the government has promoted as being of vital importance, Karamanlis is expected to return to Athens from the three-day trip with an array of deals and agreements in his luggage. Sources: ANA, Xinhuanet, Kathimerini.
Beijing willing to learn from Athens in hosting Olympic Games, says BOCOG President Liu Qi January 19, 2006 -- Beijing is willing to learn from Athens in hosting Olympic Games and enhance the two sides' economic, tourism and cultural co-operation and exchange, said Beijing's top official. Liu Qi, Secretary of the Beijing Municipal Committee of the Communist Party of China (CPC), made the remarks while meeting with visiting Greek Prime Minister Costas Karamanlis. Liu, who also serves as President of the Beijing Organising Committee for the Games of the XXIX Olympiad (BOCOG), briefed his Greek guest on Beijing's Olympic preparatory progress. China's Olympic slogan "One World, One Dream," along with the Five Friendlies, which will serve as the Official Mascots of the Beijing Olympics, was launched last year. All preparatory work is currently well under way and the Olympic venues will be ready to stage test competitions as scheduled in 2007, Liu said. Karamanlis echoed Liu's remarks by saying that Greece is willing to share its Olympic experience with Beijing and enhance its trade and cultural ties with the Chinese counterpart. The Greek Prime Minister arrived in Beijing on Thursday morning, January 19, for a three-day official visit to China at the invitation of Chinese Premier Wen Jiabao. A joint Commission on Co-operation in hosting the Olympic Games -- the Sino-Greek Joint Committee on Olympic Co-operation, which was established in July 2005 -- held its first meeting last December in Beijing. Present at the meeting were Liu Jingmin, Vice Mayor of Beijing and BOCOG Executive Vice-President, and Wang Wei, BOCOG Executive Vice-President and Secretary-General. Source: BOCOG.
Key Sino-Greek business priorities before PM's China visit January 17, 2006 -- Tourism, logistics and telecommunications are viewed as key areas of interest for business co-operation between Greece and China ahead of Prime Minister Costas Karamanlis' visit to China starting on January 18. According to a survey by the state-run Hellenic Centre for Investment (ELKE) released on January 16, other fields of interest are industry, especially food and beverages, and education. In tourism, the main aim would be to attract Chinese sector investment and tourists. Already, a company named EASTIN may plough funds into a five-star hotel, the chain's first in Europe. Concerning logistics, two major Chinese transit trade firms are eyeing Greek port facilities as a gateway to European markets. Cosco (China Ocean Shipping (Group) Company) is negotiating with ATHEX-listed Thessaloniki Port Authority SA, while state-run China Shipping Group (CSG), China's second-largest shipping company, is seeking facilities in Crete (see article below). The port of Thessaloniki serves the growing needs of Northern Greece, and the countries of the Balkan peninsula and South-East Europe, for the import and export of raw material and consumer products. The development prospects of the port increase as the economies of these countries stabilise and gradually grow. State-run Thessaloniki Port Authority has been operating the port since 1999. The port's annual throughput is approximately 15,000,000 tonnes of cargo (6,900,000 tonnes of which are dry cargo) and 320,000 TEUs (Twenty feet Equivalent Units) containers. It also serves more than 3,000 ships and 230,000 passengers annually. The port of Thessaloniki is a trading route for 30% of Central Macedonia's GDP and 5% of the country's GDP. The port provides employment directly or indirectly to more than 3,000 people. Numerous Greek shipowners commission the construction of new ships in China, acting as a powerful negotiating tool to bring sector firms to Greece. In the telecommunications and information technology sector, the operations of ZTE Corp., which has invested approximately EUR 3 million in Greece so far, could be strengthened both in Greece and the Balkans. It plans to set up a training and demonstration centre for the Balkans. The company worked with ATHEX-listed Hellenic Telecommunications Organisation (OTE) during the Athens 2004 Olympics. Other sector companies in the Greek market are Huawei Technologies (telecoms and infotech), and Lenovo, which operates in computers and has forged an alliance with IBM Hellas SA. Among ATHEX-listed companies with the longest presence in China are F.H.L. Kiriakidis Group; ETMA Rayon SA; Folli-Follie SA; Crete Plastics SA; S&B Industrial Minerals SA; and Promota Hellas SA. The ETMA Group operates in China through two 51%-owned subsidiaries, Heilongjiang ETMA Chemical Fibre Co., Ltd. and Heilongjiang LONGMA Chemical Fibre Co., Ltd., in co-operation with China's Heilongjiang Longdi Company Ltd. ELKE figures show that Greek investments in the Chinese market totalled EUR 139.16 million as at December 31, 2004 versus EUR 71.9 million at the end of 2003. Greek commercial firms operating in China include ATHEX-listed Lavipharm SA through its subsidiary, Castalia Laboratoires Dermatologiques SA. Since 2004, Castalia has been marketing, importing, distributing and selling the Castalia Soins Dermocosmetiques dermo-cosmetic line of products in China. Castalia is a European line of clinically-proven, dermo-cosmetics from Lavipharm Laboratories, featuring four types of skin care (Sensial, Chronoderm, Dermopur and Helioderm) formulated especially for sensitive skin. The Castalia Soins Dermocosmetiques range of products will be distributed in the Chinese market by Profex SA, subject to the Chinese Ministry of Health's approval. Castalia is owned by Lavipharm Laboratories, an international pharmaceutical group specialising in researching and developing new technologies that enhance the performance of both cosmetics and pharmaceuticals. Lavipharm has been distributing pharmaceuticals for more than 60 years, and began developing products in 1979. Castalia is headquartered in Paris. According to the survey, the most recent Greek operations that have entered the Chinese market are ATHEX-listed Iktinos Hellas SA and Soumelidis SA, a privately-owned firm that co-operates with Shanghai Green Zone Food Co., Ltd. ELKE says that it has worked with the following Chinese companies that have shown interest in Greece: Chongqing Zong Shen Motorcycle Group Corp.; Jiangmen Jincheng Motorcycle Co., Ltd.; Beijing Chargeking Energy Technology Co., Ltd.; and Wenhao Technology. The state-run one-stop-shop for investors noted in its report that it hopes to offer know-how to China for the creation of a business club during the Beijing Olympics modelled on the Athens Business Club 2004, a networking and matchmaking club that brought together businesspeople from around the world to create new partnerships and develop new business during the Athens 2004 Olympic Games. ELKE, in co-operation with the Athens Organising Committee for the 2004 Olympic Games, the Hellenic Foreign Trade Board, and the Federation of Greek Industries, managed the Athens Business Club 2004. A proposal is being drafted following a recent meeting to China by Deputy Foreign Minister Euripides Stylianidis and contacts with Beijing municipal officials, ELKE said. Sources: ANA, ELKE, INVgr, Lavipharm/Castalia.
Greece vows to enhance relations with China January 14, 2006 -- Greek Prime Minister Costas Karamanlis asserted in Athens today that his upcoming visit to China will promote and upgrade relations between Greece and China to strategic partnership, for the benefits of the two countries and peoples. In an exclusive interview in his office with China's Xinhua News Agency, Karamanlis said that the successive hosting of the Olympic Games by Greece and China has greatly upgraded and increased the quality of bilateral ties. He said that it is the right time to promote bilateral relations to a new high. The Greek Premier stressed that both countries have the duty and a strong common incentive to contribute "in order to promote peace, stability, prosperity around the world", noting that "China is a very important country with a very important political role on [an] international level," while Greece is a member of the European Union and NATO and a non-permanent member of the UN Security Council. "There is no doubt that, especially nowadays, in the framework of the current international situation, both sides should intensify their efforts and co-operation in order to bring peoples of different civilisations closer and, thus, to contribute to international peace and security," he said. "The Comprehensive Strategic Partnership, which is going to be concluded during my imminent visit to China, is a milestone in our bilateral relations, setting the framework for an enhanced future co-operation," he added. Karamanlis expressed his hope that his first official visit to China, scheduled for January 19-22, 2006, will greatly enhance the co-operation between the two ancient civilisations in all areas, especially in the areas of trade, tourism, cultural and educational co-operation. "As far as economic relations are concerned, I believe there is great potential for the development, among others, of the areas of commerce, mercantile marine and tourism." The Greek Premier told Xinhua that his country, with its geographic advantage, has tried hard to attract foreign investments, including Chinese investors. "We are establishing a flexible and efficient market that looks forward and outward and welcome investors from all around the world, and China in particular," Karamanlis said. He elaborated that one of Greece's main comparative advantages is its position at the heart of the fast developing region of South-East Europe. "We have been eliminating the various barriers that discourage private investment by reducing bureaucracy," he added. Referring to the bilateral Olympic co-operation, Karamanlis promised that Greece will try its best to help China host successful Olympic Games in 2008. "I would like to assure you that Greece will assist in every possible way the effort of the Chinese government so that the Beijing Games will be outstanding in all aspects, and a true reflection of the long history and rich culture of China, as well as its current status as a world political and economic power." Source: Xinhuanet.
TelePassport Hellas SA to deploy ZTE Corp.'s triple-play services in Greece December 22, 2005 -- TelePassport Hellas SA announced today a collaboration with ZTE Corporation, China's fastest-growing global provider of telecommunications equipment and network solutions, for the deployment and promotion of triple-play voice, video and data services in Greece. ZTE Corp. will provide Athens-based TelePassport with equipment which includes DSLAM terminals, video servers and customer set-top boxes to cost-effectively and simultaneously deliver enhanced triple-play voice, data and video services to residential subscribers and businesses. The deal is worth EUR 23 million over the next three years and TelePassport expects the deployment to be delivering services to the Greek market by the second quarter of 2006. TelePassport is planning the expansion of its network with the creation of 36 nodes in order to extend coverage to 70% of the Greek population. Initially an IPTV service will be provided in Athens and Thessaloniki, which will expand to cover the whole of Greece within the next two years. The first triple-play package will include access to 384-2048 Kbps Internet, at least two telephone lines per connection and access to content. The new platform will be able to provide a wide range of services including free voice communication between TelePassport subscribers, additional telephone lines, specified speed internet access, on-line gaming, IPTV free channels/satellite channels or terrestrial, subscriptions channels, musical programs on satellite radio, near VoD, TSTV (Time-Shifted Television), PVR (Personal Video Recorder), TV video telephone, on line betting, tele-marketing, tele-medicine, TV mail and info services such as news, cinema, and hospital information. Says Evangelos Savouris, CEO, TelePassport Hellas, "We are taking a big step forward, opening the road for our country in triple play services with our collaboration with ZTE. This agreement will bring Greek customers closer to enjoying bundled services like films, musical programmes, radio and coded TV channels. At the same time, our customers will be able to use services such as telemedicine and teleworking, and carry out banking and stock exchange transactions from home, as well as having at their disposal telecommunications services such as the Blue Phone. Finally, subscribers to these programs will be able to make local and long distance calls between themselves free of charge." Richard J. Guo, Vice President of ZTE's International Marketing Department, commented: "ZTE is present in more than 20 countries in Europe. Greece has been our centre in the Balkans since 2002. After our successful development and commercial disposition of triple play in many countries worldwide, this is our first installation in Greece. I would like to thank TP for the excellent cooperation. Our advanced products and services combined with TP's wide experience of the Greek market, I am sure, will benefit the Greek consumers." About TelePassport Hellas
Founded in 1998, TelePassport Hellas is one of the biggest alternative telecom players in Greece after Tellas. The company provides its corporate and individual clients with advanced fixed telephony and Internet services in profitable prices. TelePassport is the only company that provides broadband services and solutions based on S-DSL technology. S-DSL provides fast connection at equal speed on downloading and uploading also with multiple fixed lines. Furthermore, through its latest deal with ZTE, TelePassport is now capable of providing triple-play services. About ZTE Corp.
ZTE Corp. is China's largest listed telecommunications manufacturer. Founded in 1985, ZTE Corp. has been listed as an A-Share company on the Shenzhen Stock Exchange since 1997. In December 2004, ZTE was successfully listed on the Hong Kong Stock Exchange (SEHK). In 2004, the Chinese manufacturer reported revenues of RMB 21.22 billion (USD 2.56 billion), a 24% year-on-year increase, of which approximately RMB 4.58 billion (USD 522.8 million) or 21.5% are derived from ZTE's activities overseas. The international market is becoming ZTE's most important strategic market. ZTE is now is present in more than 60 countries and territories where it offers a diversified range of products, such as WCDMA, CDMA, NGN, GSM, switching, access, and optical transmission. ZTE Corp. is a comprehensive provider of telecommunications equipment, mobile terminals and services. With its three product series -- wireless, network and terminal (mobile phone) -- ZTE is capable of providing global customers with diversified integrated telecommunications networking solutions and a wide range of professional services on a 24/7 basis, and has been involved in the market of international telecommunications operation services. ZTE has formed a strategic co-operation with Piraeus-based, ATHEX-listed Marac Electronics SA in the telecommunications sector.
Intracom Chairman criticises Chinese competition
December 15, 2005 -- Socrates P. Kokkalis, Chairman of the Intracom Group, referred to the recent growing competition by Chinese companies in the field of telecom systems and products during the first repeated shareholders' meeting of Intracom's Extraordinary General Assembly, held at its headquarters in Peania, Athens today. "Chinese industries enjoy partial government financing in doing business abroad," the company said in a press release today. "Besides, different conditions exist in their daily operations. All these make it impossible for the Greek companies to compete at equal terms. Today, Greek organisations are seriously considering the possibility of acquiring Chinese equipment and products, while at the same time ignore internationally-acclaimed Greek companies. Such a decision will eventually lead to the detriment of the Greek industry overall, considering that it will delay the development of domestic companies and will gradually contribute to the reduction of job positions in the country." Intracom is a member of the Hellenic-Chinese Chamber of Commerce and Industry (HCCCI). Sources: Intracom, INVgr.
Greek Alternate Culture Minister wraps up visit to China...
December 14, 2005 -- Greek Alternate Minister of Culture Fani Palli-Petralia wrapped up her visit to China today within the framework of the two countries' cooperation ahead of the 2008 Beijing Olympic Games with a lunch hosted in her honour by Chen Zhili, State Councilor and BOCOG (Beijing Organising Committee for the Games of the XXIX Olympiad) First Vice President. "The Chinese government awaits the visit of the Greek Prime Minister [Costas Karamanlis, who also serves as his country's Culture Minister] next month, which will make ties between the two peoples, who share common historical roots, closer," Zhili told Petralia, who also co-chairs the Sino-Greek Joint Committee on Olympic Co-operation. This newly-formed committee held its first meeting in Beijing yesterday. It is within this framework that a relevant memorandum will be signed which will designate the period from September 2007 through to the end of the Beijing Games in 2008 as "China's Year of Greece". "During the time that Greece will be the honoured country, we want to highlight many common elements shared by the two peoples," Petralia said. Zhili expressed her satisfaction with the results of the Sino-Greek Joint Committee on Olympic Co-operation's first meeting, adding that the Chinese government appreciates Greece's contribution in helping China prepare for the 2008 Games. She hoped that the joint committee will contribute more to the success of the Beijing 2008 Olympiad. Sources: ANA, BOCOG, INVgr. ...attends inaugural meeting of Sino-Greek Joint Committee on Olympic Co-operation December 13, 2005 -- The Sino-Greek Joint Committee on Olympic Co-operation held its first meeting in Beijing today. The Greek side made a presentation on a wide range of matters, such as safety and security in the Athens 2004 Olympic Games, competition venue layout and operations, management and coordination of health service as well as media service and publicity. Meanwhile, the Chinese side briefed its counterpart on the progress of the preparations for the Beijing 2008 Olympic Games. During their stay in Beijing, the Greek delegation also visited the construction sites of several Olympic venues in the Chinese capital. China and Greece agreed to form this joint committee in May 2005, following the proposal of Chen Zhili, State Councilor and BOCOG First Vice-President. Since then the two sides have been involved in co-operation on a number of areas, including the incorporation of Athens' experience into Beijing's preparatory work and the exchange of athletes and cultural activities. Present at the meeting were Liu Peng, Minister of the General Administration of Sport, President of the Chinese Olympic Committee, Executive President of the Beijing Organising Committee for the Games of the XXIX Olympiad (BOCOG) and Co-Chair of the Sino-Greek Committee on Olympic Co-operation, and Liu Jingmin, Vice-Mayor of Beijing and BOCOG Executive Vice-President. Greek Alternate Minister of Culture Fani Palli-Petralia, who is also Co-Chair of the Sino-Greek committee, and Panos Livadas, Greece's Secretary-General of Information of General Secretariat of Information, were also present at this inaugural meeting. The Sino-Greek Joint Committee on Olympic Co-operation will hold its second meeting in Athens in 2006. Source: BOCOG.
Greece's mission to Beijing and Shanghai highlights the Balkan country as an investment location for Chinese businesspeople and investors December 3, 2005 -- The role of China in today's global marketplace is, without a doubt, of major importance to every country in the world. The Hellenic Centre for Investment (ELKE), the national investment agency responsible for promoting, attracting and supporting foreign direct investment into Greece, is taking a pro-active position to highlight the many benefits that Greece offers to Chinese businesspeople and investors. Between November 28 and December 2, Athens-based ELKE participated in a mission to Beijing and Shanghai that highlighted Greece as an investment location, showcased Greek products, and demonstrated the attractiveness of MBA programmes in the country. Greek Deputy Foreign Minister Evripidis Stylianidis led the mission for a joint session of the Bilateral Ministerial Economic Commission. Members of the Greek business community met with their Chinese counterparts to discuss trade and investment opportunities. During two economic fora, one in Beijing and one in Shanghai, Dr. Panos Lagos, ELKE's Investors' Network Manager, made presentations to Chinese investors on Greece's investment opportunities. Dr. Lagos underscored the current government's commitment to a vastly improved investment climate, built on a new Investment Incentives Law, reform of the Tax System, and the creation of new legislation for Public-Private Partnerships (PPPs). Initial interest was expressed by the Taiwanese group EASTIN to build a five-star hotel in Greece. The hotel development company is seeking a European beachhead to expand its operations westward and views Greece favourably, especially considering the tourism sector's major success story with between 12-14 million arrivals, depending on whose interpretation of the data is used, generating income of EUR 10-20 billion a year, again according to how the sector is defined. Tourism in Greece probably contributes close to 20% to Greek GDP -- directly and indirectly -- and accounts for about one in six of all jobs in the country. Two Chinese firms expressed a desire to establish a major logistics centre in Greece to serve the needs of the vast amount of Chinese goods entering Europe. Interest was shown in both Thessaloniki and Crete for these important projects. Dr. Lagos also met with representatives of Softbank, who expressed an interest in Greek investment opportunities in order for the bank to accurately advise its clients. In addition, Dr. Lagos briefed officials from the City of Beijing on the Athens Business Club 2004, the on-line and onsite business forum established by ELKE, the Athens 2004 Organising Committee for the Olympic Games, and the Federation of Greek Industries (SEB), that operated prior to and during the 2004 Olympic Games in Athens. The Athens Business Club 2004 provided a dedicated platform, within the framework of the Olympic Games, for Greece to highlight trade and investment opportunities between Greek and foreign companies. One of the most pivotal areas of bilateral co-operation is in the tourism sector and it is expected that the introduction of a direct flight between China and Greece will spur many visitors to the country, who have a highly favourable image of Greece and its history. As more Chinese visit Greece, it is expected that investors will show a keen interest in tourism facilities and services, a sector that offers a wide range of opportunities to investors world-wide. The positive interest shown by the Chinese clearly demonstrates that reforms in Greece are producing results domestically, regionally and globally. China sends around 20,000 young students a year to study abroad. Greece hopes to attract 1,000 Chinese students a year to study in English-language private educational institutions and universities. Chinese students pay less to study in Greece -- up to USD 12,000 per annum -- than in Australia, the United Kingdom, Ireland and other countries, where the annual cost can be between USD 22,000-25,000. Sources: ELKE, INVgr. INVgr footnote: Greece and China laid the foundations for closer commercial ties and increased investments in both countries during the 9th Greece-China Interministerial Committee meeting. The meeting was presided over by Stylianidis and Chinese Deputy Minister of Commerce, Yu Guangzhou. The first day of the Greek-Chinese business forum, held in Beijing, proved fruitful, producing "promising" results, according to ELKE.
Shanghai Stock Exchange Chairman: Greek-Chinese relations have favourable prospects
December 1, 2005 -- Greek-Chinese relations have favourable growth prospects, while the Chinese market offers significant investment opportunities to Greek businessmen, Geng Liang, Chairman of the Shanghai Stock Exchange, China's largest bourse, recently said in Athens. Greek National Economy and Finance Minister George Alogoskoufis expressed his belief that bilateral economic relations would strengthen more in the future. Theodore Fessas, President of the Greece-China Business Council and Chairman & CEO of ATHEX-listed Info-Quest SA, said the best way to come closer with China and its enterprises was to establish serious bilateral relations and to acquire a better knowledge of the market and to invest capital and know-how in sectors of mutual interest. Sources: ELKE, INVgr.
Chinese interested in developing regional cargo transit centre on Crete November 11, 2005 -- A nine-member Chinese business delegation recently paid a visit to Crete. The delegation was headed by Li Ke Lin, the current Chairman of the state-run China Shipping Group (CSG), China's second-largest shipping company. Ke Lin is also Deputy President of China Shipping Container Lines Co., Ltd. (CSCL), a division of CSG that is sounding out the outlook for the development of the port of Heraklion and other harbours on the island. Chinese companies, including shippers, have shown strong interest in the construction of a cargo transit centre on the island of Crete, Minister of Mercantile Marine Manolis Kefaloyiannis told a news conference yesterday. "There is [an] intense interest from China and from Chinese companies for the development of a joint investment with Greece and the creation of a new port station in Crete, which would have the size of Piraeus," Kefaloyiannis said. "About one million containers will arrive at the port annually."
Ke Lin recently wrote to the Greek government after a tour of the southern Aegean island and other Mediterranean and European countries, saying that Crete would make an excellent location for a centre to cover eastern Mediterranean, the Black Sea and the Adriatic, due to its location. "The main thing today is that China Shipping Container Lines and the demand for containers in the Mediterranean region are both growing very rapidly -- this year we have 800,000-1,000,000 -- and it is essential for us to find a transit centre," Li Ke Lin said during his trip to the island. China Shipping Group is a large multinational shipping conglomerate that was founded on July 1, 1997 in Shanghai, the country's largest coastal city.
"The investment will proceed immediately, and we are studying the possibility of making it through a government-to-government agreement between Greece and China... The port will be in Tymbaki, on the southern coast of Crete," the Greek Minister of Mercantile Marine said.
Also taking part in the trip were the Chairman of China Shipping Europe (Holding) Co., Ltd., Yu Zenggang; the head of the China Shipping Group's Mediterranean office, Zhu Jinze; and executives of the Hongkong International Terminals (HIT), the world's largest and busiest privately-owned container terminal operator. HIT is the flagship operation of the Hutchison Port Holdings (HPH) Group, which operates in 20 countries. The port and related services group operates a total of 242 berths in 41 ports. It operates in five of the seven busiest container ports in the world. Today, the Greek flag fleet consists of roughly 3,500 vessels amounting to more than 103,807,860 gross tonnes or 171,593,487 DWT. This fleet represents about 20% of th |
