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On June 21 2017, Madam Counsellor Zhou Ruojun gives a keynote speech at the conference “ The way out of the Crisis: Trust, Investments, Exports” organized by the Pan-Hellnic Exporter's Association regarding China - Greece trade and economic cooperation.
Speech by Commercial Counsellor Zhou Ruojun
at the Conference of the Panhellenic Exporters Association
June 21, Athens
Dear Ministers, Mr. President of the Panhellenic Exporters Association, distinguished guests, ladies and gentlemen,
Good morning!
On behalf of the Chinese Embassy and H.E. Ambassador Zou Xiaoli, I would like to extend our warmest congratulations to the success of this conference.
By taking this opportunity, I’d like to share with you some thoughts regarding the development of trade and investment relations between China and Greek.
First, a solid foundation is already in our hands. Since the establishment of diplomatic relation 45 years ago, our bilateral relation has witnessed remarkable achievements in trade, investment, culture and also people to people exchange. Our extensive exchange is not limited to the highest leadership, but also extends to multiple areas and levels. In 2016, our bilateral trade reached 4.58 billion USD. Chinese investment is coming to Greece for infrastructure, energy, telecom, real estate, tourism and many others to name. It is worth to mention that H.E. Prime Minister Alexis Tsipras successfully attended the Belt and Road Forum for International Cooperation in Beijing last month and met with Chinese President Xi and Prime Minister Li. During his visit, China and Greece signed the Three-year Cooperation Plan on Important Areas. I think you may agree with me that the connection between our two old civilizations has never been closer than today.
Second, huge potential is awaiting our efforts. The economies and industries of China and Greece are highly complementary to each other. China is a global manufacture powerhouse, 80% of its export are manufactured goods. China is also a fast growing market. The huge population of Chinese middle class highly appreciates the charisma and reputation of Greek products and tourism. However, numbers tell that we have a huge potential to explore. In terms our bilateral trade, it accounts for 0.12% of China’s global trade and 5.9% of Greece’s. Although China’s stock investment in Greece has reached 1.6 billion USD and 7% of Greece’s FDI, the number is still no match for the fast growth of China’s OFDI. To make the numbers reflect our potential, we need to make joint efforts to bring our bilateral trade and economic relations to a new level.
Third, new momentum is gathering to boost our bilateral economic and trade relations. The year 2017 will see new momentum gathering in the development of our economic and trade relations. In this September, China will be the honored country of the 2017 Thessaloniki International Fair (TIF). Also in this year, a direct flight will be launched between Beijing and Athens by Air China. The acquisition of 24% shares of Public Power Corporation (PPC) by China’s Sate Grid has been successfully closed. The "flagship" effect of the Cosco Piraeus project has been growing stronger and bilateral investment cooperation is demonstrating broad prospects. The Cosco Piraeus project is by far the most successful infrastructure cooperation project in Greece and even Europe. In the past 6 years, the port capacity has increased astonishingly 5 folds. In addition, Cosco is also planning to make further investment in the business of international cruise ship, vehicle terminal, ship repair and logistic distribution. Through an innovative way of combining cruise ship and chartered airline, Cosco is also aiming to attract more Chinese tourists to Greece.
Ladies and gentlemen,
All these good news have significantly boosted the interest and confidence of Chinese businesses to invest in Greece. More importantly, Greek businesses have also intensified their efforts in exploring the Chinese market. The China-Greece economic relations are witnessing unprecedented development and transition from just trade relation to a multi-facade relation driven by multiple engines including investment, truism and culture.
Last but not least, the alignment of our two countries’ development strategies provides strong driving force for our economic cooperation.
China's Belt and Road Initiative belongs to the world. The idea came from China, but the benefits will flow to all countries including Greece. In this initiative, we aim to strengthen the connectivity of policy, infrastructure, trade, finance and people. It will provide golden opportunities to both Chinese and Greek Entrepreneurs.
Greece is committed to becoming the regional hub of shipping, energy, and services as well as the gateway for commodities, people, and services from Asia and North Africa to enter Europe. This is a perfect match for the Chinese Initiative of "Belt and Road" cooperation. China highly appreciates the support and active participation of Greece in the "Belt and Road" Initiative, and is confident that Greece will not only walk out of the debt crisis, but also provide strong and constructive partnership to China.
Ladies and gentlemen,
Today, it is fair to say that China needs Greece, just as Greece needs China. We are willing to work closely with our Greek friends from government, associations, chambers and all walks of life to further unleash our trade and investment potential by strengthening policy coordination, innovating trade promotion means, establishing more service platforms and tackling difficulties and hurdles faced by our entrepreneurs. In this process, we particularly desire the support from organizations like the Panhellenic Exporters Association.
I am confident that our joint efforts will bring a bright future to the economic development of Greece and also China-Greece economic cooperation.
Thank you all.
