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Shipping sector leads the way in Greece - China collaboration

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Greek - Chinese economic and trade relations are dynamic and with collaboration in the shipping sector, leading the way, was the message of the Belt and Road Invest in Greece 2021 Forum, held online April 22.

Greece’s Foreign Affairs Secretary General and President of the Ministry’s export agency, Enterprise Greece, Ioannis Smyrlis, addressing the ‘China and Greece: The New Silk Road’ forum cited Cosco’s key investment at the port of Piraeus, the founding of a Bank of China branch in Athens, and the Belt and Road Initiative itself as examples of the ongoing collaboration with China.

Enterprise Greece facilitates bilateral trade and investments in several sectors, including tourism, real estate, agriculture and food, transport and energy, among others.

Despite the impact of Covid-19 and the negative effects it had on the financial results on some business units, like the cruise, ferry and car terminal, the Cosco Shipping managed Piraeus Port Authority (PPA) in a briefing to the Hellenic Fund and Asset Management Association said it achieved the uninterrupted continuation of port activities in conditions of safety, without placing any employee on temporary suspension.

PPA proceeded with contracting investments running to $254.1m in 2020 as it strengthens its efforts to accelerate their implementation and upgrade port infrustructure. Turnover amounted to $148.8m and profit before before taxes was $41.33m and profits after taxes was $29.57m.

 

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