Of George Lampiris
The business mission that takes place between March 12 and 14 with the participation of members of the Greek political leadership as well as high-ranking executives of Greek companies is in full swing these days.
From the Greek side, companies from all branches of business participate and from sectors such as shipping, banking, oil industry, construction, energy, food and beverage sector, tourism and real estate, pharmaceutical industry, industry cosmetics, telecommunications.
The president of TEMES SA, Achilleas Konstantakopoulos, participates in the business mission, representing the Greek side in the newly established Business Council of Greece – Saudi Arabia, which was developed to facilitate the economic cooperation of the two countries.
Wide participation from the political leadership
On behalf of the Greek state, the Minister of Development and Investment, Adonis Georgiadis, the Deputy Minister of Foreign Affairs for Economic Diplomacy and Extroversion, Costas Frangogiannis, the Deputy Minister of Development, Ioannis Tsakiris and the General Secretary, Mr. Sofia Zacharaki and the general secretary of the Ministry. Of Tourism, Olympia Anastassopoulou.
Mr. Frangogiannis is accompanied by the Secretary General of International Economic Relations of the Ministry of Foreign Affairs, Giannis Smyrlis, the CEO of Enterprise Greece, George Filiopoulos and the General Manager of the Export Credit Insurance Organization, Grigoris Stamatopoulos,
The aim of the business mission is to strengthen bilateral business, trade and diplomatic relations between Greece and Saudi Arabia. The program includes conducting B2B business meetings.
|
Company name |
Field of Activity |
|
Inasco Hellas |
Aerospace |
|
Greek petroleum |
Oil industry
|
|
ASPROFOS ENGINEERING |
Technical and consulting company in Greece with services in Petroleum, Natural Gas, Petrochemical and Infrastructure projects. |
|
STIRIXIS SA |
Consultants to companies |
|
ΤΑΙΠΕΔ |
Public property management |
|
FREZYDERM |
Dermocosmetics |
|
GRANTEX |
Friction materials for vehicles (eg disc brakes, thermocouples) |
|
PRENECON SA-PRIME ENERGY CONSTRUCTIONS |
RES projects for the private and public sector |
|
WHITESTONE CONSTRUCTIONS |
Design and construction of private projects |
|
ELPEN PHARMACEUTICAL CO. INC. |
Pharmaceutical industry |
|
|
|
|
UNI-PHARMA KLEON TSETIS PHARMACEUTICAL LABORATORIES SA |
Pharmaceutical industry |
|
THEODOROU GROUP |
Robotics and automation for industry and supply chain |
|
TEMES SA |
Tourism and Real Estate |
|
|
|
|
OBRELA SECURITY INDUSTRIES |
Cybersecurity |
|
|
|
|
POLYGREEN |
Waste management |
|
|
|
|
ZOURAS FARM SA |
Poultry – Egg production |
|
MARKOU BROS GROUP |
Cotton gins |
|
MYTILINEOS GROUP |
Energy and constructions |
|
MYTILINEOS GROUP |
|
|
OLYMPIA ELECTRONICS |
Security and fire protection systems |
|
GEK TERNA GROUP |
Construction – energy |
|
HELLENIC DEFENCE SYSTEMS SA |
Defense systems |
|
WARPLY |
Fintech |
|
AGC EQUITY PARTNERS |
Investments |
|
INTRUM HELLAS |
Financial services |
|
PLAISIR GROUP SA |
Catering Services |
|
THE CONCIERGE MYKONOS |
Luxury services tourist office |
|
DROMEAS SA |
Office supplies industry |
|
ALPHA BANK |
Financial services – Banking |
|
RAYCAP |
Telecommunication and industrial infrastructure |
|
EUROBANK |
Financial services – Banking |
|
DYNACOM TANKERS |
Shipping |
|
SARACAKIS BROTHERS SA |
Automotive industry |
|
|
|
|
ATTICA PITTAS |
Honey production |
|
PIRAEUS BANK |
Financial services – Banking |
|
ECORESET |
Environmental services |
|
KARTERIA SHIPPING & TRADING INC. |
Shipping |
|
LIFE-T |
Fertilizer industry |
|
WAQAR |
Trade, representation of fruits, coffee, oils and food in general |
|
|
|
|
EGVENES |
|
|
AGROPOWER |
Hydroponic crops |
|
NATIONAL BANK OF GREECE |
Banking – Financial services |
|
MM EDUCATIONAL GROUP |
Education |
|
|
|
|
BRIGHT SPECIAL LIGHTING |
Lighting products |
|
ARCHIRODON |
Constructions |
|
ARCHIRODON |
|
|
ROYAL SUGAR |
Sugar trade |
In terms of bilateral relations between the two countries, with the exception of the decline in Greek exports to Saudi Arabia by 60% in 2020, due to the escalation of the health crisis, the comparative analysis of the last six years shows that Greek exports to country show a steady growth trend, returning to pre-pandemic levels in 2021.
A key parameter is the significant increase in petroleum exports to Saudi Arabia in 2021, which, for the first time, exceed our own petroleum imports from that country. Despite their cyclical nature, they strengthened the bilateral trade volume (1.2 billion euros, an increase of 60.2%), while contributing to the reduction of the long-term deficit to the detriment of the country in the trade balance by 62.9%.
Bilateral Trade of Greece – Saudi Arabia 2016-2021 (including petroleum products) in million €
|
|
|
|
|
|
% Change |
|
|
2016 |
2017 |
2018 |
2019 |
2020 2019-2020 2021 (Jan-Nov) |
|
exports |
447.3 |
680.3 |
725.1 |
745.3 |
296, -60.1% 561.1 |
|
INTRODUCTIONS |
838.8 |
966.2 |
1,010 |
884.3 |
543.3 -38.6% 652.6 |
|
VOLUME OF TRADE |
1,286.1 |
1,646.5 |
1,735.1 |
1,629.6 |
840.1 -48.5% 1.213 |
|
commercial balance |
-391.5 |
-285.9 |
-285 |
-139 |
-246.5 77.3% -91.4 |
Source: ELSTAT
Source: Capital
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