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November 25th, 2008, 06:21 AM
Hu in Geece for €4.35bn port deal
24 Nov 2008, 1709 hrs IST, AFP
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ATHENS: Chinese president Hu Jintao began a three-day official visit to Greece headlined by the signature of key trade accords, including a deal putting Chinese container giant Cosco in charge of running cargo facilities at the main port of Piraeus.
Hu's Air China plane landed at Athens International Airport where he was welcomed by Greek Prime Minister Costas Karamanlis, whose conservative government has long wooed Chinese trade cooperation.
A small group of Chinese waving Greek and Chinese flags had also gathered on the tarmac. The two leaders left the airport without making statements.
But Karamanlis, who visited Beijing in 2006, told Chinese state news agency Xinhua in a recent interview that "strengthening ties with China is a major priority of the foreign policy of my government."
"Our aim is to make Greece the prime location in our region for inward Chinese investment," the Greek PM said.
Successive Greek administrations have lobbied to persuade China of Greece's strategic value as a trade partner with easy access to the Balkans and the European Union.
Political relations between Greece and China grew closer after Athens hosted the 2004 Olympics and transferred part of its experience to the Chinese for last summer's Beijing Games.
Private business deals predate this rapprochement — Greece's world-leading ship owners set up a foothold in China years ago, placing significant orders with the Asian giant's booming shipyards and providing the tankers that transport the bulk of China's oil imports.
During his stay, Hu is scheduled to sign a 4.35-billion-euro (5.5 billion-dollar) deal for the 35-year concession of the main container terminal at Piraeus, Greece's busiest port, to giant Chinese port operator Cosco.
The government says it is imperative to increase the competitiveness of Greek harbours at a time when Mediterranean neighbours Egypt, Syria and Turkey have already taken similar steps to attract operators.
Under the terms of the concession, Cosco is expected to modernise the Piraeus container terminal and boost its annual capacity from 1.6 to 3.7 million twenty-foot equivalent units (TEU).
Hong Kong-based global transport operator Hutchison Whampoa is also engaged in talks for a similar plan involving the concession of the container terminal of Salonika, Greece's main northern port and a major gateway into the Balkans.
A number of other trade accords will be signed during Hu's stay, including a deal between main Greek telecoms operator OTE and Chinese group Huawei and a partnership between the Greek and Chinese state broadcasters, ERT and CCTV.
The Chinese president is flying to Greece on his return home from a tour of Latin America where he attended the Asia-Pacific Economic Cooperation forum, visited Costa Rica and Cuba and signed a free trade agreement with Peru.
Hu will also spend a day on Crete, where the Greek government plans to invest around one billion euros to create a new container terminal in Tymbaki, on the island's southern Messara Bay.
The Chinese president leaves Greece on Wednesday.
Anyone heard about this new container terminal in Crete?
24 Nov 2008, 1709 hrs IST, AFP
Print Email Discuss Share Save Comment Text:
ATHENS: Chinese president Hu Jintao began a three-day official visit to Greece headlined by the signature of key trade accords, including a deal putting Chinese container giant Cosco in charge of running cargo facilities at the main port of Piraeus.
Hu's Air China plane landed at Athens International Airport where he was welcomed by Greek Prime Minister Costas Karamanlis, whose conservative government has long wooed Chinese trade cooperation.
A small group of Chinese waving Greek and Chinese flags had also gathered on the tarmac. The two leaders left the airport without making statements.
But Karamanlis, who visited Beijing in 2006, told Chinese state news agency Xinhua in a recent interview that "strengthening ties with China is a major priority of the foreign policy of my government."
"Our aim is to make Greece the prime location in our region for inward Chinese investment," the Greek PM said.
Successive Greek administrations have lobbied to persuade China of Greece's strategic value as a trade partner with easy access to the Balkans and the European Union.
Political relations between Greece and China grew closer after Athens hosted the 2004 Olympics and transferred part of its experience to the Chinese for last summer's Beijing Games.
Private business deals predate this rapprochement — Greece's world-leading ship owners set up a foothold in China years ago, placing significant orders with the Asian giant's booming shipyards and providing the tankers that transport the bulk of China's oil imports.
During his stay, Hu is scheduled to sign a 4.35-billion-euro (5.5 billion-dollar) deal for the 35-year concession of the main container terminal at Piraeus, Greece's busiest port, to giant Chinese port operator Cosco.
The government says it is imperative to increase the competitiveness of Greek harbours at a time when Mediterranean neighbours Egypt, Syria and Turkey have already taken similar steps to attract operators.
Under the terms of the concession, Cosco is expected to modernise the Piraeus container terminal and boost its annual capacity from 1.6 to 3.7 million twenty-foot equivalent units (TEU).
Hong Kong-based global transport operator Hutchison Whampoa is also engaged in talks for a similar plan involving the concession of the container terminal of Salonika, Greece's main northern port and a major gateway into the Balkans.
A number of other trade accords will be signed during Hu's stay, including a deal between main Greek telecoms operator OTE and Chinese group Huawei and a partnership between the Greek and Chinese state broadcasters, ERT and CCTV.
The Chinese president is flying to Greece on his return home from a tour of Latin America where he attended the Asia-Pacific Economic Cooperation forum, visited Costa Rica and Cuba and signed a free trade agreement with Peru.
Hu will also spend a day on Crete, where the Greek government plans to invest around one billion euros to create a new container terminal in Tymbaki, on the island's southern Messara Bay.
The Chinese president leaves Greece on Wednesday.
Anyone heard about this new container terminal in Crete?