Greece Signs BRI Deals, States “China Invested When Everyone Else Stayed Away”

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Chinese President Xi Jinping is currently on a 3 day State visit to Greece, and has been agreeing multiple deals with Athens. Greece, like nearby Italy, is a signatory to China’s Belt & Road Initiative, with Xi syaing that “China and Greece are natural partners” in the scheme.

Chinese investors already own the majority stake in Piraeus Port, one of Europe’s largest, while the country is strategically positioned as both a maritime and road and rail location for goods travelling through to other parts of the EU. Piraeus acts as the distribution hub for a massive network of ports, railways, roads and industrial parks spanning Asia, Africa, the Middle East and Europe that will see trillions invested in new infrastructure across 126 countries.

“Relations with Greece are a priority for China,” Greek Foreign Minister Nikos Dendias said Thursday. “They came and invested in Greece when others stayed away” during the Greek economic crisis. Dendias said.

Greek and Chinese delegations signed over a dozen agreements, including an extradition accord, agricultural export deals and an agreement to open the first Bank of China branch in Athens.

The Industrial and Commercial Bank of China will also open a representative office in Greece, officials said. The agreements signed Monday will “unleash potential in energy, transport and financial cooperation.” President Xi said.

 

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Silk Road Briefing is written by Dezan Shira & Associates. The firm provides strategic analysis, legal, tax and operational advisory services across Eurasia and has done since 1992. We maintain 28 offices throughout the region and assist foreign governments and MNC’s develop regional strategies in addition to foreign investment advice for investors throughout Asia. Please contact us at asia@dezshira.com or visit us at www.dezshira.com

 

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