|
 |
|
|
|
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 the world's fleet. Greece shipping accounts for about 60% of the EU shipping total. Approximately 23.5% of the world's oil tankers of 73.8 million tonnes belong to Greek shipowners, as much as the combined fleets of Japan and the United States. Greek ships transport about 70% of Chinese imported oil and natural gas and as the economies of China and other countries expand, Greek shipping is keeping apace with newbuilds. The Greek fleet is rapidly becoming renewed to meet rising global demand, and in response to new regulations, so that between 2001 and 2005 Greek owners have invested more than USD 20 billion in Japanese shipyards alone for the construction of new ships. Greek shipping leads the way According to Kefalogiannis, Greek-owned ships are responsible for 90% of sea transport 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 the world's fleet. Greece shipping accounts for about 60% of the EU shipping total. Approximately 23.5% of the world's oil tankers of 73.8 million tonnes belong to Greek ship owners, as much as the combined fleets of Japan and the United States. Greek ships transport about 70% of Chinese imported oil and natural gas and as the economies of China and other countries expand, Greek shipping is keeping apace with newbuilds. The Greek fleet is rapidly becoming renewed to meet rising global demand, and in response to new regulations, so that between 2001 and 2005 Greek owners have invested more than USD 20 billion in Japanese shipyards alone for the construction of new ships. According to Minister of Mercantile Marine Manolis Kefalogiannis, Greek-owned ships are responsible for 90% of sea transport in the European Union. Sources: ANA, China Shipping Group, Hutchison Whampoa Ltd. (HWL), ELKE.
High-level talks on Greek-Chinese co-operation held in Athens November 1, 2005 -- Greek Development Minister Dimitris Sioufas met with visiting Wang Zhongfu, China's Director General of State Administration for Industry and Commerce. Sioufas asked for Zhongfu's contribution to boost Greek exports to China -- including olive oil and other certified farm and industrial products -- and stressed that Greece could become a gateway and transit centre for Chinese products to Europe. Zhongfu, who is is a member of China's 16th CPC Central Committee, asked for the Greek government's expertise on competition matters, market function, advertising and consumer protection. Source: ELKE.
China's Huawei Technologies signs EUR 1.5 million contract with Germanos SA's Sunlight...
October 17, 2005 -- Sunlight, Germanos SA's Xanthi-based industrial unit, announced it has signed a contract worth EUR 1.5 million with Huawei Technoligies, the Chinese telecommunications equipment supplier, after winning an international tender. The Greek firm will supply batteries, supply systems, power generators as well as technical support services. The agreement was signed in Tashkent, Uzbekistan on September 9. About Huawei Technologies Headquartered in Shenzhen, Huawei's customer list includes more than 300 operators in 90 countries, and its revenues for 2004 exceeded USD 5.8 billion. Established in 1988, Huawei Technologies Co., Ltd. is an international high-tech enterprise specialised in research and development (R&D), production and marketing of communications equipment, providing customised network solutions for telecom carriers in optical, fixed, mobile and data communications networks. Huawei is one of the fastest-growing telecommunication and network solutions providers globally. The Chinese multinational is one of the world's leading suppliers in the field of Broadband Network (NGN, DSL, MSAN), Mobile Network (GSM/GPRS, UMTS, CDMA), Optical Network, Data Communication, Software and Applications (Intelligent Network). From its Greek office in Athens, Huawei Technologies SA offers its range of products to the rapidly-expanding South-East European markets, including Greece, FYROM, Kosovo, Albania and Cyprus. About Sunlight Germanos' autonomous corporate entity constitutes the largest production plant of batteries and accumulators in Europe, and the third-largest producer world-wide. With its headquarters in Neo Olvio, Xanthi and with six production lines, Sunlight creates and produces more than 1,500 specialised products with applications in high technological requirement areas, such as telecommunications, transportation, defence, large-scale construction projects, etc. The company's products are distributed in more than 25 countries. Sunlight is also one of the leading industries in the world's defence sector, and the partner of some of the most powerful manufacturers in this sector. SUNLIGHT has been awarded with the quality assurance certificates ISO 9001, and AQAP 110, as well as with the certificate of German Quality Assurance Department BWB. By systematically investing in Research & Development, Sunlight co-operates with Greek universities, DEE, and NATO, in more than 22 programmes aiming at the development of state-of-the-art, environmentally-friendly technological products. Sources: Germanos, INVgr. ...to supply USD 12.5 million of equipment to Uzbek GSM mobile phone network operator
October 3, 2005 -- Huawei Technologies will supply USD 12.5 million worth of equipment by the end of this year to expand the network of Unitel LLC, the Uzbek GSM mobile phone network operator, a spokesman for Unitel informed Russian news agency Interfax today. The spokesperson added that, according to a contract signed last month, Huawei will supply 200 base stations, new switching centres and other equipment that will be installed by the end of 2005. Unitel has already installed 150 base stations this year. With the new base stations from Huawei, the total will reach 530. "Thanks to the new equipment, the company plans to substantially expand the geography of its network," Unitel's spokesman said, quoted by Interfax, adding that the new Huawei equipment is being installed to keep up with the rapid growth in the number of users. By making mobile services more affordable, Unitel aims to capture the lower income segment of the market. Unitel's subscriber base topped 250,000 in September, more than double the 122,000 subscribers the company boasted at the beginning of this year. Unitel has already invested USD 35 million in its network in Uzbekistan this year, and plans to invest USD 150 million over three years. Launched in 1997, Unitel is owned by an international consortium that includes the European Bank for Reconstruction and Development, ATHEX-listed Germanos SA, Global Finance SA, and Panos Germanos, founder, Chairman of the Board of Directors and major shareholder of Germanos, the leading Greek retail network of mobile service and equipment centres. The consortium acquired Unitel from South Korea's Daewoo International for USD 73.5 million in September 2004. In June 2005, the EBRD announced that it is lending Unitel USD 30 million in an effort to make mobile communication services more affordable and accessible to a greater part of the Uzbek population. The Bank already holds a 7% stake in the private, Greek-owned company. Unitel will use the funds to extend its network and introduce services, such as pre-pay, not yet available in the country. The loan is consistent with the EBRD's strategy for Uzbekistan, which on account of slow progress in political and economic reforms stresses private-sector project finance, particularly for such critical infrastructure as telecoms. Global Finance is an independent, Athens-based investment firm. Founded in 1991, it pioneered private equity in South-East Europe and has established an exceptional investment track record. Listed on the Athens Stock Exchange, Germanos has a network of about 300 outlets in Greece and more than 400 in Central and Eastern Europe. Sources: EBRD, Interfax, Global Finance, INVgr.
Mayor of Athens holds talks with Chinese Foreign Minister September 27, 2005 -- Athens Mayor Dora Baloyiannis, continuing her official visit to China, today met with Foreign Minister Li Zhaoxing, an old and good friend of Greece and admirer of the ancient Greek civilisation. Asked whether there is a possibility of the United Nations Security Council examining some new initiative soon regarding a solution to the issue of Cyprus, the Chinese minister said that China, being a permanent Security Council member, always respects its relevant resolutions and "we shall continue to play a constructive role on this issue." Li added that Cyprus is a good friend of China and expressed the wish that a rational solution to the issue of Cyprus will be found as soon as possible and the people there will have a prosperous life. He further said that relations between the two peoples are very good. China's Foreign Minister spoke enthusiastically about the successful holding of the Athens 2004 Olympic Games, expressing the satisfaction of all the Chinese over this outcome, since relations between the two peoples are "lost in the depths of the centuries". He also said that the fact that, for two continuous times, the Olympic Games are being carried out in cities having such friendly feelings for each other is a fortunate conjuncture. Bakoyiannis stressed the need for a strong cultural presence of Greece in Beijing in the near future, an aim which is made easier by the proclamation of 2008 as "The Year of Greece" in China. Referring to the very good level of bilateral relations between the two countries and to possibilities of further development, Bakoyiannis said that the opening of an air link between Beijing and Athens would be of help, since many businessmen on both sides travel frequently. The Athens municipality's delegation also visited a part of the Olympic facilities, where the Olympic Stadium -- under construction -- and the swimming pool are located, and was informed that projects will be completed at the end of 2007 to allow time for necessary testing. In her meeting afterwards with Liu Qi, the president of the Beijing Organising Committee for the Games of the XXIX Olympiad (BOCOG), secretary of the Communist Party of Beijing's Central Committee and former mayor of the city, Bakoyiannis expressed her conviction that Beijing will organise very successful Olympic Games and placed the municipality of Athens at the disposal of organisers for any help they might need. On September 26, the Athens mayor attended a reception given in her honour by Greek Ambassador to China Michail Kabanis (Mikis Kambanis) and proclaimed three Chinese Olympic Games gold medallists, during last year's Athens Olympics, honorary citizens of the city, adding that the thoughts of all Greeks are focused on Beijing. Bakoyiannis noted that co-operation between Greece and China will also continue after the 2008 Beijing Olympic Games in which Greece will have a strong presence. Source: ANA.
Defence Minister Spilios Spiliotopoulos embarks on week-long official visit to China August 29, 2005 -- Spilios Spiliotopoulos, the Greek National Defence Minister, embarked on a week-long official visit to the People's Republic of China this week, following an invitation by his Chinese counterpart Cao Cangchuan. The visit to China is the first by a Greek defence minister in the past eight years. Spiliotopoulos, a former fighter pilot, is heading a Greek delegation during the visit. Talks are expected to focus on co-operation in the armaments production sector as well as issues revolving around regional security and stability. During his week-long visit to China this week, the Greek minister will tour several military units, bases, defence industries and will also speak at China's military sciences academy. Greek and Chinese defence ministers hold talks in Beijing The will of the political leaderships of Greece and China for strengthening and supporting the bilateral relations in a broad spectrum of sectors, was reiterated by Spiliotopoulos and his Chinese counterpart Cangchuan during a meeting they had in Beijing today. The two defence ministers agreed that the United Nations constitutes the supreme forum for securing world peace and security. The Greek side briefed the Chinese side on the situation in Kosovo, the Balkans and on Greece's participation in peace missions under the auspices of the UN, while it thanked the Chinese government for its stance in the Cyprus issue, within the framework of the United Nations. The Chinese side referred to the problems with Japan and Taiwan, to the issue of the European Union embargo, for the lifting of which a decision of the "25" is pending following the adoption of the "Code of Conduct", as well as the joint military exercises with Russia. On the issue of the security of the 2008 Beijing Olympic Games, the Greek side reiterated its willingness to offer its experience to the relevant Chinese authorities. On a bilateral level, prospects were examined for co-operation in the defence industry sector. A protocol of co-operation is already in place between Greece and China in the defence-technical sector. Source: ANA.
HELEXPO SA to sign agreements with Chinese trade groups in September August 1, 2005 -- HELEXPO SA, the state-owned operator of two exhibition centres in Greece, one in Thessaloniki and one in Athens, expects to sign agreements next month with Chinese trade groups. Themis Kartsiotis, Managing Director, HELEXPO, held talks with visiting representatives of the China Council for the Promotion of International Trade (CCPIT), the country's Chamber of Commerce, Beijing's World Trade Centre and other key agencies. Thessaloniki-based HELEXPO is host to some of the largest exhibitions in Greece and South-East Europe, including the annual Thessaloniki International Trade Fair. HELEXPO and Beijing International Fair (BIF), one of China's largest international trade fairs, agreed to conduct market research into the viability of arranging exhibitions abroad. Source: ELKE.
Greece-China Business Council launched July 29, 2005 -- Greece and China announced that they have formed a business council to spur links between the two countries. According to the council's President, Theodore Fessas, the Greece-China Business Council aims to focus on alliances and investment between major companies. Fessas said, "This is a welcome turn of events for Greece, which has achieved recognition from China that is disproportionate to its size due to the Olympic Games in Athens and Beijing."
"This is coupled with China's sharply rising economic and political influence globally and the two countries’ interest in South-East Europe," Fessas said. Chinese Ambassador to Greece Tian Xuejun underlined his government’s full support of the council and said he was personally working to spur links in tourism between the two countries. The council, with the Greek side headquartered in Athens and the Chinese side headquartered in Beijing, will support Greek-Chinese co-operation in main economic sectors. Source: ELKE.
Greece to be 'guest of honour' at 2008 Beijing Olympic Games
July 11, 2005 -- Greece will have the exclusive distinction of 'guest of honour' at the 2008 Beijing Olympic Games following the request made by Greek Alternate Culture Minister Fani Palli-Petralia and the agreement of Chinese Culture Minister Sun Jiazheng. Palli-Petralia received the approval of her request during a working lunch she had with Jiazheng today in the Chinese capital. The request was made in the context of promoting Greek culture and the Olympic Spirit during the Beijing Games. The agreement is of particular importance for both sides as it signals the beginning of a new era in cultural relations between the two countries, based on Olympic ideals. Greece and China will work together in formulating a series of proposals, while the agreement between the two countries is to be signed during Prime Minister Costas Karamanlis's forthcoming visit to China. "The agreement is very important and it will place particular emphasis and add a new dimension to the great Olympic bridge we are building between Athens and Beijing," Palli-Petralia said. "We have already agreed on a large-scale exhibit to be held at Beijing's National Archaeological Museum with Olympic Culture as its theme," she added. On his part, Jiazheng said that, "With Mrs. [Palli-]Petralia's visit to Beijing we are turning a new page in the two countries' co-operation in the cultural sector." He added that, "With the staging of the Olympic Games in Beijing the Olympic Spirit will spread throughout China. Because Greece is the birthplace of the Olympic Games, for us it is a priority that we borrow from Greece's wisdom. It's natural that the spirit of the Olympic Games is the spirit of Greek civilisation, which is why 2008 is the year of the Beijing Olympic Games but also that of Greek civilisation." Additionally, Palli-Petralia and China's Sports Minister Liu Peng signed a memorandum of co-operation regarding the creation of a Joint Committee of Olympic Co-operation. Palli-Petralia also met with Liu Jingmin, Executive Vice-President of the Beijing Organising Committee for the Games of the XXIX Olympiad (BOCOG) and Deputy Mayor of Beijing, and other committee officials as well as with officials responsible for the Olympic Torch Relay and the Olympic Truce. Finally, Palli-Petralia conferred with China's Education Minister Zhou Ji. The Games of the XXIX Olympiad will be staged in Beijing in August 2008. With the highlights of BOCOG's motto "New Beijing, Great Olympics" and "Green Olympics, High-tech Olympics and People's Olympics," the Chinese hope that the Beijing Olympic Games will be remembered in history as an outstanding sports event with distinct features and will leave China as well as the world a valuable cultural and sports legacy. Source: ANA / BOCOG.
ZTE Corp. kicks off pan-European roadshow, to visit Athens March 30-April 1 March 29, 2005 -- ZTE Corporation, China's largest telecommunications manufacturer and wireless solutions provider, will be visiting Greece next week as part of the Chinese company's first pan-European roadshow. The Chinese multinational will be presenting some of the world's leading telecommunications technology in Athens. ZTE's roadshow will visit ten countries over the next three months -- Greece, Turkey, Romania, Hungary, the Czech Republic, Poland, Germany, France, Spain and Portugal. Between March 30 and April 1, visitors to the Politia Tennis Club, located in northern Athens, will be able to experience first-hand ZTE's advanced wireless technology and solutions for the 3G era, including the company's industry-leading WCDMA V3 system, next generation networks and a wide range of 3G services. "Greece is geographically, economically and politically important to ZTE and we have already had considerable success here," said Guo Jun, General Manger, ZTE Eastern Europe. "We believe that there is a huge market demand in Greece for broadband, 3G and next generation networks (NGN): our roadshow will demonstrate to local customers ZTE's outstanding capability in these fields." Last year, ZTE supplied a DSL network to serve the Athens 2004 Olympic Games, which performed throughout the Games without any problems or downtime. Under the contract, ZTE helped state-run Hellenic Telecommunications Organisation SA (OTE) to deploy an ADSL system serving 16 points in Athens. Since then, ZTE announced that it was to extend its network into the rest of Athens as part of a contract with OTE. "Our strategy in Europe is totally focused on localisation: we will work more closely with local partners, recruit more local employees and set up regional centres for maintenance and R&D," added Guo Jun. "Greece will be an ideal place for us to support our customers in Balcon region. We have doubled the number of employees at our Greece office in the last two months and are planning to establish a technical support centre in the country by June this year." ZTE has established 14 offices in Europe and has made significant steps into the European market already in 2005: earlier this month, ZTE announced that it is to become a global supplier of ADSL equipment to France Telecom; in February, ZTE announced an agreement with Alcatel that will see ZTE's CDMA radio access portfolio integrated into Alcatel's CDMA end-to-end solutions; in January, ZTE signed a research-and-development Memorandum of Understanding with Portugal Telecom and won a contract to supply Skylink, Russia's largest CDMA operator, with an advanced CDMA network for Murmansk.
Greece to attract up to one million Chinese tourists by 2024, Greek Research Institute for Tourism survey reveals March 23, 2005 -- Greece is expected to attract up to one million Chinese tourists over the next 20 years, according to a survey by the Research Institute for Tourism (RIT, also known as ITEP in Greek) published today. Citing a conservative estimate, the survey said tourist arrivals to southern Europe from China would total six million in 2024, of which between 800,000 and one million could come to Greece. RIT said the number of Chinese tourists arriving to Greece could reach two million by 2034, up from 10,000-15,000 in 2004. The survey forecasts arrivals of 400,000 in the year 2014. RIT said its forecasts were 20% higher compared with other forecasts by the World Tourism Organisation (WTO) and China's Tourism Institute, although it noted that policies to attract Chinese tourists would not be an easy and ordinary task since Greece was not attractive as a destination of a multi-country journey. The Research Institute for Tourism said a high priority is to set up national tourism offices in China's biggest regions and cities, such as Beijing and Shanghai, and to establish scheduled and charter flights between the two countries. Professor P.G. Pavlopoulos is RIT's Director General. Source: ANA.
Intralot SA opens regional office in Beijing
December 20, 2004 -- In view of strengthening its global presence and particularly its operations in Asia, Athens-based Intralot SA has established a business office in Beijing in order to monitor the developments in the Chinese market and participate in state gaming tenders. ATHEX-listed Intralot is a leading provider of state-of-the-art integrated gaming systems to lottery organisations world-wide. The firm delivers cutting-edge game design, network integration, transaction processing and value added services, ensuring efficient, secure and profitable operations for Intralot's customers. Based on its expertise, know-how and substantial experience, Intralot develops, operates and supports custom-made gaming solutions, including numerical, video and sports lotteries, as well as fixed odds betting, pari-mutuel (pooled) wagering, and instant lottery games. With subsidiaries and business offices around the globe, Intralot today dominates in Europe and has secured a strong presence in the developing South American market. As the third-largest lottery supplier in the world, Intralot, which has established a foothold in North America and the Pacific Rim, seeks to consolidate its leadership position in the global marketplace. Intralot is an affiliate of the Intracom Group, which consists of an international network of more than 35 independent companies with 6,038 employees (as at December 31st, 2003) in the fields of telecommunication systems design and implementation, IT systems and networks deployment and integration, engineering of telecommunications products, software applications development and services provision, as well as steel and electromechanical constructions, energy and power production, building constructions, development of lottery systems and real estate management systems. The Intracom Group includes subsidiaries and participations, active in Greece and Cyprus, the Balkans (Albania, Bulgaria, Moldova, Serbia, FYROM, Romania, Turkey), Central Europe (Belgium, Luxembourg, Hungary, Czech Republic, Croatia), the Middle East (Jordan, UAE, Saudi Arabia), USA and Russia. In the rest of the markets, the company is active through local offices and international partnerships. Socrates P. Kokkalis is the Intracom Group's founder, Chairman and majority shareholder (25.55% as at December 1, 2004) and Chairman of Intralot. Sources: INVgr, Intracom, Intralot.
Olympic Know-How Transfer Conference held in Beijing November 3, 2004 -- The Olympic Know-How Transfer Conference, during which Athens 2004 organisers shared their know-how and successful Olympic experience with the Beijing Organising Committee for the Games of the XXIX Olympiad (BOCOG), came to a successful close today. The event kicked off in Beijing on October 31 under the auspices of the International Olympic Committee (IOC). The conference, as is evident by its title, is meant to transfer valuable know-how and experience related to staging the Olympic Games to Beijing, which will be hosting the Summer Olympics in 2008. The transfer of such knowledge and experience to future host countries and candidate hosts is a contractual obligation of every Olympic Organising Committee. "We kept the promise we made to the international community for unique Olympic Games on a human scale to the fullest," Gianna Angelopoulos-Daskalaki, President of the Athens 2004 Organising Committee for the Olympic Games, said during the conference's inaugural session. "The Olympic Games have now been held three times in this third millennium, and Sydney, Salt Lake City, and now Athens were all great successes," IOC Olympic Games Executive Director Gilbert Felli said. "After each of those Games, we have held debriefing meetings, with transfer of knowledge becoming a key step in the IOC's work to ensure the Games continue to go from strength to strength. Transfer of knowledge plays a key part in work being led by IOC President Jacques Rogge to manage the size and complexity of the Olympic Games, whilst maintaining their quality," he added. Marton Simitsek, Executive Director of the Athens 2004 Organising Committee for the Olympic Games, who presented his Committee's organisational structure and strategy at the conference, said: "Over the past three days we briefed our friends of the Beijing Organising Committee on all aspects of Olympic Games preparations. This sharing of information is always key to the success of the Games. Just as Greece gave the Games to the world, we have been delighted to work with the IOC and the BOCOG to help pass on key lessons of Athens 2004." High-ranking IOC officials, representatives of the Organising Committee for the XX Winter Olympic Games in Torino (2006) and the Vancouver Organising Committee for the 2010 Olympic and Paralympic Winter Games were among the attendees of the conference, which dealt with issues such as finance, Games identity and vision, venue planning and operation, test events and the Paralympic Games. Other delegates included: BOCOG management and executives; chairpersons of the IOC Coordinating Commissions for future Olympic Games; Presidents of the International Sport Federations and other representatives of sports associations; and representatives of the candidate host cities for the 2012 Games (London, Paris, New York, Moscow and Madrid). Source: ANA.
China syndrome Bi-annual Business File Special Survey on Greek shipping June 2004 -- This winter the operators of dry bulk cargo ships thought every day was Christmas. Large modern vessels were fetching hire rates in excess of $100,000 a day. Even much older, much smaller vessels were attracting $35,000 a day. Tanker rates were high and container rates strong. The driving force was China. Since it joined the World Trade Organisation three years ago, it has become the factory of the world with a GDP growth rate last year in excess of 9%. Heavy industry sucked in coal and iron for steel. Manufacturers churned out white and black goods for the retail market. Tankers brought in fuel. Container ships took the goods to market. Greek ship owners were in the forefront of those cashing in on the boom. One managed to fix a new vessel as it was launched at a rate that will pay it down, in less than two years. Others were making clear profits of $25,000 a day on older ships that, in a poor market, they would have sent for scrapping. Owners scrambled to acquire more vessels to cash in on the boom but shipyards were already booked till 2006 and beyond. So great was the demand for operational ships, that second hand vessels were selling at rates higher than new- buildings and ships under construction were being sold at a hefty profit even before they left the slipways. Now the Chinese government has announced that it is taking measures to contain the rate of growth in the economy so that it doesn't overheat. It's not yet clear just how rigorous these will be. But freight rates have already fallen by about a quarter; futures have been being dumped at half their original value and the upward pressure on prices for vessels has ceased. No one is certain whether this is the beginning of a meltdown which will see another deep depression in market rates or whether its just a temporary hiatus. For, even if China slows, other developing economies continue to surge. The Indian economy has been growing at a rate of 6.5% a year; the world average at above 4%. [full story...] "The Greek shipping industry, with a fleet of 3,400 vessels and a tonnage accounting for 16 percent of the world fleet, is the biggest and pioneering force in the world, but we should not rely on this success. The experience of the last 10 years has proven that nothing can be taken for granted unless there is a specific strategy plan and bold and timely decisions are taken. The government has done a significant job so far, but much more needs to be done. Our goals are clear. We want a shipping industry profitable and competitive, safe and environmentally friendly. An industry with an increasing national shipping register that creates new job positions." -- Dr. Costas Karamanlis, Prime Minister of Greece
Posidonia International Shipping Exhibition to be held in Piraeus June 7-11, 2004 May 19, 2004 -- Piraeus, the heart of the Greek shipping industry, is once again hosting the Posidonia International Shipping Exhibition, which will take place on June 7-11, 2004 at the Piraeus Exhibition Centre (OLP). International shipping is enjoying a period of intense activity, and as controllers of combined 170 tonne deadweight, Greek ship owners are amongst the leaders in this buoyant market. With Greece hosting the 2004 Olympic Games, the world's leading shipping event is already shaping up to be a record breaker, hosting even more exhibitors than 2002, with over 80 countries taking part. Posidonia is the largest gathering of the global Greek shipping community. Among those participating in this truly global marketplace are many national pavilions including China, Great Britain, France, Hong Kong, Japan, Korea and the USA. This is a unique opportunity for companies to showcase their products and services at one of the largest gatherings of shipping interests and the most exciting shipping industry event in South-East Europe. The Greek beneficially-owned fleet continues to be the largest in the world.
S&B Industrial Minerals SA acquires Stollberg Group from Degussa AG
The Stollberg Group is the world's leading research and manufacturing company focused on mold flux April 7, 2004 -- Athens-based mining group S&B Industrial Minerals SA is acquiring the Stollberg Group, which is currently owned by Germany's Degussa AG and is headquartered at Oberhausen in Germany. A definitive agreement to this effect has been signed by both companies. The Stollberg Group is a global market leader in the production of casting fluxes for the foundry industry, with production facilities on four continents. S&B is paying EUR 54.4 million for 100% of Stollberg Group -- EUR 43.8 million in cash (raised through borrowing) and EUR 10.7 million through the assumption of debt held by the company following a recent upgrading of the plant (the net financial debt as of December 31st, 2003). The deal is subject to the approval of Degussa's Supervisory Board and of the relevant regulatory authorities. The transaction is expected to be completed in about two months, while the deal will be financed through S&B's current credit facilities. Stollberg GmbH is owned by SKW Metallurgie AG, a wholly-owned subsidiary of the Duesseldorf-based Degussa Group. The Stollberg Group owns production facilities in Germany, the U.S., France, Brazil, India, Korea -- the Korean business is a 50-50 joint venture with Samil Co. Ltd. -- and China (owned through the Korean business), employing a total of about 350 employees world-wide. Stollberg's core business is the production of casting fluxes, a range of specialised and high value-adding products utilised for the facilitation of the continuous casting process in steel casting. The annual production of Stollberg is about 120,000 MT of powders and granules. It has invested in recent years in new capacities in the growing markets of Brazil, India and China and has today, in its seven production sites, a capacity of about 190,000 MT. The Stollberg Group is the world's leading research and manufacturing company focused on mold flux. Stollberg is the market leader in its field, selling to most of the steel producers in the world. The company enjoys an excellent reputation for high quality, strong customer technical support and commitment to providing innovative, customer-tailored solutions. Established in 1926 to supply the steel industry with fluxes, research and applied knowledge developed by the Stollberg Group has continuously delivered technical advances to its customers. Total sales for the year ended in December 31st, 2003 amounted to EUR 60.3 million with earnings before interest and taxes of EUR 6.1 million. This acquisition enables the S&B group to expand globally into one more "market to mine" integrated chain, based on the wollastonite industrial mineral. Wollastonite is a key component of Stollberg's products and has been already supplied to Stollberg Europe through S&B's Otavi Industrial Minerals Division in Germany. The acquisition of Stollberg and the Chinese granular wollastonite mine and processing unit (see details below) "are integrally linked and establish S&B as an important global player in this niche mineral market," the company claimed in a press release. Furthermore, Stollberg's well-established presence in Brazil, India, Korea and China will accelerate the expansion of S&B with its existing industrial minerals portfolio in these developing and fast growing markets. This is a major acquisition for S&B, as it underscores and promotes S&B's declared strategic objective to expand both geographically and in terms of its product portfolio, establishing global leadership positions in niche industrial minerals markets.
S&B Industrial Minerals is a supplier of specialty minerals to a broad range of industrial applications, including metallurgy, foundry and metal processing, construction and civil engineering, agriculture, glass and ceramics. S&B is listed on the Athens Exchange, has a turnover of EUR 289.6 million and is among the leading producers of bentonite, perlite and bauxite in Europe, owning mines, processing facilities and distribution centers in 16 countries in 4 continents. As of September 2003, S&B Industrial Minerals SA is the new distinctive title of the former Silver & Baryte Ores Mining Co. SA.
S&B Industrial Minerals SA signs new mine exploitation and wollastonite processing agreement in China
February 26, 2004 -- Athens-based mining group S&B Industrial Minerals SA announced today the signing of an agreement to participate with a majority stake in a new joint venture, dealing with the exploitation of a mine of granular wollastonite in China, as well as the operation of the related processing unit, for an undisclosed sum. The agreement is subject to the approval of the Chinese authorities. The mine and the processing unit are located near the city of Hulan, in the province of Jilin some 850 kilometres North-East of Beijing, which until today belong to Jilin Wollastonite Development Co. Ltd. (JWD). In the new joint venture being created with JWD, S&B -- via its subsidiary SIBIMIN Overseas Ltd., Cyprus -- will control 51% and will have the management responsibility. S&B's participation will be increased to 75% within 3 years, through a share capital increase of the new company. The mine today has an annual production capacity of 50,000 tonnes of wollastonite, while the processing unit has a current capacity of 24,000 tonnes per year. Wollastonite's reserves are estimated at 1.5 million tonnes and are considered to be of particularly high quality. Wollastonite is a specialty mineral, used in metallurgy, in plastics as well as in ceramics. China is the largest producer of wollastonite in the world. Today, S&B is active in the trade of wollastonite through its Otavi Industrial Minerals Division and is one of the two largest suppliers of Chinese wollastonite in Europe. This particular investment signals the extension of Otavi's activity from processing and trading specialty minerals to their mining as well. It is expected to increase considerably the wollastonite sales of Otavi, to about EUR 7 million and to reduce the cost of raw materials. At the same time, S&B's expertise in the planning and operation of mines will contribute to the rational long-term exploitation of the reserves of wollastonite in Hulan. Referring to this new S&B business initiative, Mr. Efthimios Vidalis, S&B's Chief Executive Officer, commented: "This investment builds on our valuable eight-year experience in China and enables us to complete one more 'market-to-mine' integrated chain of a specialty industrial mineral, such as wollastonite, from the European market to the Chinese mines. Our objective is to expand our activity in the global market and to gradually acquire further mines and processing units in China." The investment will allow S&B to capitalise on experience gained through its Chinese perlite operations. Established in 1934, S&B is a specialty minerals mining and processing company, with extensive resources and significant market shares in its major products of bentonite, perlite and bauxite (own mines) as well as a palette of traded products for the glass and ceramics industries. S&B Industrial Minerals SA is a specialty minerals mining and processing company with extensive resources and significant market shares in its major products of bentonite, perlite and bauxite, as well as a palette of traded products for the glass and ceramics industries. S&B is based in Athens, Greece and owns 48 mines, plants and distribution centers in more than 15 countries in Europe, Asia and North America. S&B is the largest bentonite in Europe and the largest supplier of graded perlite world-wide. In 2002, S&B had consolidated sales of EUR 291.3 million and earnings before taxes reached EUR 26.2 million. S&B's shares are listed on the Athens Exchange (ATHEX) since 1994 (60%: Kyriacopoulos family, 40%: free float). Other activities include the exclusive distributorship of Yamaha products in Greece, Romania and Bulgaria (Motodynamics SA) and an industrial machinery and equipment trading company (ERGOTRAK SA).
TAIWEI - MINGSHI Golf Management Ltd. A Business Oriented Approach to Golf Development & Management Beijing TAIWEI is a multi-business group, founded in June 1993, and his main business has traditionally focused on the construction industry. During the last ten years, the business activities of Beijing TAIWEI have greatly developed into many other domains. Nowadays, Beijing TAIWEI has intensively engaged not only in the construction industry but also in the real estate, leasing, hotel, tourism, and particularly in golf business. [more...] [INVgolf]
Imports from China reach EUR 960.9 million in 2002 November 15, 2003 -- Commercial ties, including measures to shrink the currently lopsided balance of trade, dominated the eighth Greece-China inter-ministerial committee meeting in Athens on October 29, 2003, a session that included participation of several entrepreneurs from both sides. According to official figures, Chinese imports to Greece in 2002 barely missed the impressive EUR 1 billion mark (EUR 960.9 million), increasing from EUR 840.7 million in 2001. Conversely, Greek exports to the massive Chinese market totaled EUR 56.8 million in 2002, up from a paltry EUR 44.2 million in 2001. Greek exports to China are mostly marble and fertilisers, whereas electronics, air conditioning units and even vessels are imported from the People's Republic of China. Beyond trade talks, the government reiterated its support for China's assumption of the 2010 World Expo, echoing Beijing's support for Thessaloniki's World Expo bid in 2008. In statements afterwards, Chinese delegation chief Zhang Zhigang called on Greek business people to intensify their activities in the vast Far East country, while pointing to the services sector as one area where Greece-based entrepreneurs should focus. He also said Beijing wants Athens to support the lifting of several anti-dumping measures slapped on China by the European Commission. Deputy Foreign Minister Andreas Loverdos led the Greek delegation in talks and later accompanied Zhigang during a meeting with officials from the Federation of Greek Industries (SEV). Both men also spoke to a group of Greek and Chinese businesspeople at SEV's headquarters. Source: ANA.
Consulate General of the Hellenic Republic to be opened in Shanghai October 29, 2003 -- Deputy Minister of Foreign Affairs Andreas Loverdos announced today that Greece will open a Consulate General in Shanghai in January 2004. The announcement was made during a press conference that followed the Mixed Ministerial Committee between Greece and China held in Athens. Loverdos also announced that a Commercial and Economic Affairs Office will operate within the framework of the Consulate. He thanked China for its support to Thessaloniki's bid to host Expo 2008, the world's biggest trade fair. The host city will be decided by December 2004 by the Bureau International des Expositions (BIE). The Chinese Ministry of Commerce delegation characterised the meeting of the 8th Mixed Ministerial Committee as productive and underlined that bilateral economic relations develop smoothly, while he pointed out that there is room for further co-operation. The consulate can be contacted at: Consulate General of the Hellenic Republic - Shanghai Source: Macedonian Press Agency (MPA).
ATHOC promotes its innovative IT model to Beijing 2008
May 9, 2003 -- The 'PLATO' model, an innovative information technology programme that supports the planning of complex athletic events and developed to meet the Athens 2004 Organising Committee for the Olympic Games' (ATHOC) needs, was presented in Beijing during recent contacts organised by the European Union's Information Society. The contacts aim to promote co-operation between Europe and China regarding IT and telecoms systems for the 2008 Olympic Games in Beijing. The 'PLATO' model (an acronym for Process Logistics Advanced Technical Optimiser) was developed by ATHOC's technology department, with Prof. Pericles Loukopoulos, a professor at UMIST University of Manchester and Prof. Konstantinos Zografos, a professor of the Economics University of Athens, heading up the team of researchers. The PLATO model records in detail services for different "customers" (spectators, athletes, journalists, etc.), identifies required resources and the desired level of customer services. In brief, PLATO supports the effective planning and implementation of procedures, while at the same time conducting qualitative and quantitative analyses via the methodology known as "Enterprise Knowledge Management". The PLATO model was presented by researchers and ATHOC executives during a meeting in Beijing, attended by 300 participants from the People's Republic of China and Europe. Use of the PLATO model during the 2008 Games was also discussed in the meetings between representatives of the Chinese ministry of science and technology, the municipality and the Organising Committee of Beijing. Source: "Towards 2004," issue 14, May 9, 2003 (ANA, ATHOC).
S&B Industrial Minerals SA gets Chinese perlite mining licence March 27, 2003 -- Mining group S&B Industrial Minerals SA announced today it had received -- through its local Chinese subsidiary Sino-Hellenic Industrial Minerals Co., Ltd. (SHIMCO) -- a perlite quarrying licence in China issued by the Chinese government. S&B began operating in China in 1996, through SHIMCO, a company processing and trading graded perlite, and perlite mining company Xinyang-Athenian Mining Co., Ltd. (XAMCO), a joint venture between S&B and the local government of Xinyang. SHIMCO holds a 25% equity stake in XAMCO, a Chinese perlite mining company that won the relevant licence. The local state authorities own the remaining 75% of XAMCO. This is one of the first of a "new type" of mining licences, issued by China's government to foreign businesses, following a review of legislation to meet World Trade Organisation (WTO) standards. This licence clearly establishes S&B's perlite mining rights in a country emerging as one of the major producers and consumers of industrial minerals. S&B's shares in SHIMCO and XAMCO are held through Sibimin Overseas Ltd., a Cyprus-based perlite trader in Europe that holds participations in affiliated companies in China. Sibimin Overseas is 99.99% owned by S&B. Efthimios Vidalis, S&B's Chief Executive, accompanied by Thomas Androulakis, General Manager of Perlite Mining Operations, visited China to meet government officials in the Xinyang region. The production facilities of S&B and its subsidiaries in China are located in Xinyang, while the company's Chinese offices and warehouses are based in Shanghai. Regarding the licence issue, Vidalis expressed the company's satisfaction for its successful course in China, as well as for the Chinese authorities' confidence in S&B and its practices, and noted that "this licence will enable S&B to build further on the sound foundation the Company has created over the past years." Vidalis added that, "the security provided by this development, combined with the expansion of our customer base beyond our partner, Armstrong, to include other businesses in China, South Korea and Japan, allows us to finalize our plans to increase our processing capacity in China by 50%. At the same time, we are considering mining and processing investments in other industrial minerals, such as wollastonite; based on the long and positive track record in China of S&B's German subsidiary Otavi, which processes and trades a wide range of industrial minerals, as well as on our confidence in the country, and our operational capabilities there." S&B is the leader in the European market for perlite used in building materials, formed products, horticulture and cryogenics as well as for filteraids in the Greek market. The company also boasts a strong presence in the formed products segment in the eastern USA and a leading position in horticulture in North America. Being the largest producer of raw perlite internationally, S&B offers clients a comprehensive service package, including product variety, high quality, customised solutions, flexible delivery and full technical support. Perlite is a natural volcanic glassy material formed by rapidly cooled lava that trapped water within its mass. This phenomenon gives perlite its most important physical property, the ability to expand at temperatures of 800-950 degrees C. A white mass of tiny, glass-sealed bubbles is formed when sudden, controlled heating causes perlite to expand and the trapped water to evaporate. Its volume increases 10 to 20 times, and its bulk density decreases correspondingly, giving perlite excellent thermal and acoustic insulation properties, as well as high porosity. Due to those properties, perlite is an excellent lightweight aggregates, hydroponics media and significant component of acoustical tiles. S&B mines perlite in Greece, Italy, Turkey and China. Sources: S&B, ANA. Full story:
Intracom SA to supply digital radio systems to China February 3, 2003 -- ATHEX-listed Intracom SA announced today the signing of a contract, worth EUR 5.7 million, to supply its Intralink digital radio systems to China, celebrating its first year of operations of its representative office in Beijing. A company statement also said that it has signed contracts, worth EUR 22 million, to supply telecommunications equipment (subscriber access network) to Russia, Indonesia, Jordan, Yemen, Iceland, Syria, Ecuador and Costa Rica. Increased export activity is part of Intracom's strategy to expand in the global market of telecommunications products and services. Intracom's subscriber access network is currently represented in 55 countries around the world. Source: ANA.
F.H.L. Cosmos Building Materials Shanghai Co. Ltd. F.H.L. Cosmos Building Materials Shanghai Co. Ltd. is a member of the F.H.L. Kiriakidis Group, a leading supplier of building materials, marble, granite and dry mortars based in the Industrial Zone of Drama, Greece. It produces slabs, platforms, and tiles in its plant in Shanghai (Ind. P. Malu Shanghai). The F.H.L. Kiriakidis Group has six plants world-wide -- four in Greece (Drama, Prosotsani - Drama, and Volakas - Drama), one in the Former Republic of Macedonia (Prilep, FYROM), and one in China (Shanghai) -- and operates four quarries in two countries (Thassos - Kavala, Volakas - Drama, and Nevrokopi - Drama in Greece, and Prilep in the FYROM). For further information, contact:
F.H.L. Cosmostone Shanghai Co. Ltd.
Hellenic-Chinese Chamber of Commerce and Industry Mission To play a determining role in the further development of strong economic co-operation -- and, therefore, of cultural ties -- between Greece and China through services and events that add value to the Chamber's members and through active communication and co-operation with the authorities and organisations of both countries.
For further information, contact: Hellenic-Chinese Chamber of Commerce and Industry
Useful contacts and links in Greece and China Hellenic Republic Hellenic Republic Hellenic Republic Hellenic Republic Greek National Tourism Organisation (GNTO) Hellenic Republic Embassy of the People's
Republic of China in the Hellenic Republic Embassy of the People's Republic of China in
the Hellenic Republic Chinese-Greek Friendship Association Selected external links:
Advertising
| Guest Book | E-mail | Disclaimer |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
