Welcome Address of Konstantinos Bitsios SEV Vice-Chairman, on the event: “Hong Kong Your Trusted Partner in Asia”, 6/6/2016

Dear Secretary for Transport and Housing,

Dear Delegates,

Ladies and Gentlemen,

On behalf of SEV, I would like to welcome you to Athens and thank you for your presence at our business lunch.

We are especially grateful to the Hong Kong Economic and Trade Office for their substantial help and contribution in promoting economic relations between our two countries.

SEV, the Hellenic Federation of Enterprises, is the leading organization representing enterprises and industrial companies in Greece. We have been promoting business development since 1907.

As an independent, non-profit association, we are at the forefront of economic and business developments in our country.

Ladies and Gentlemen,

The achievements of Hong Kong’s economy are indeed impressive. Dynamic and high performing the services sectors accounts for more than 90% of GDP.

You are also the world’s second largest recipient of foreign direct investment and the second largest source of FDI.

Concerning trade performance, Hong Kong is the world’s 7th largest exporter of merchandize trade and the 14th largest exporter of commercial services.

Finally, Hong Kong holds the fifth position among 189 economies, on the World Bank’s ease of Doing Business.

These are important achievements.

Our relations are solid but they could be even deeper and stronger.

Our trade relations are gradually expanding, but levels remain low with total trade in goods and services reaching 128 million € in 2015 from 96 million in 2014.

Although bilateral trade surplus is in favor of Greece, exports dropped in 2013 and 2014.

This is due to the Greek economic crisis which had an impact on our trade relations.

However, Greek exports to Hong Kong reached almost 91 million euros in 2015.

Imports from Hong Kong in 2015, were 37 million euros from 43 million in 2014.

That said there is significant room for trade expansion for both sides and hopefully at today’s meeting we can exploit and expand opportunities.

Further to trade, there are important investment opportunities in Greece.

Greece has a very high growth potential with unique and sustainable competitive advantages stemming from it’s geographical location, it’s entrepreneurial skills and business track record.

Sectors like energy, transport, agro-industry, logistics, the silver economy, digital economy, manufacturing, are just some of the important sectors of our economy with excellent investment prospects.

Logistics is already a growth driver for the Greek economy.  The sector contributes approximately 11% to the Greek GDP.

This increases by 1-2% if we add all the logistics operations, provided in-house, by several manufacturing companies.

Greece is becoming a significant logistics, distribution and assembly hub offering a variety of value added services for goods crossing the country.

Ladies and gentlemen,

Your visit comes at a critical time for Greece. A few days ago, an agreement was reached between Greece and the Institutions.

Hopefully this will be the start for breaking the vicious circle of recession, new measures, recession.

I look forward to seeing our mutually beneficial economic partnership expand and develop in the coming period, taking advantage of the opportunities which arise.

I am confident that today’s meeting will further promote our economic relations to the benefit of our two countries.

Thank you