(ANSA-AP) ATHENS, NOVEMBER 12 - China and Greece signed 16
bilateral agreements on Monday outlining cooperation in a broad
range of sectors during a visit by Chinese President Xi Jinping
aimed at furthering a major global investment initiative inside
the European Union. China's state-owned shipping giant Cosco
controls Greece's largest port of Piraeus, near Athens, and
Beijing is keen to boost Chinese investment in Greece as part of
its global "Belt and Road" investment initiative. "Both sides
see China and Greece as natural partners for building the Belt
and Road," Xi said after meeting with Prime Minister Kyriakos
Mitsotakis. "We would like to mesh the Belt and Road initiative
more closely with the development strategy of this country." Xi
said both countries would "fully leverage" Piraeus' shipment
capabilities and strengthen the China-Europe Land-Sea Express
Line, a trade route between China and Europe that on land
connects Piraeus with Budapest in Hungary. Mitsotakis said the
aim was for Piraeus to become not just the largest port in the
Mediterranean but the largest port in Europe, and he said he
appreciated that China "supported Greece when Greece was going
through its economic crisis." The prime minister said Greece
recognizes China "not only as a great power but as a country
that with difficulty has gained a leading geostrategic,
economic, and political role." Xi also met with President
Prokopis Pavlopoulos before he and Mitsotakis visited the Cosco
facility in Piraeus. Greece is still struggling to rebound from
a deep and protracted financial crisis that saw its economy
shrink by 25 percent. The country and its new conservative
government are keen to attract overseas investment despite
concerns from some of Athens' Western allies over the rapid
expansion of China's global influence. The 16 government and
business agreements signed between the two countries Monday
include sectors as diverse as extradition, agricultural exports,
education, energy, the airline industry and additional Cosco
investments in Piraeus. The agreements also include the opening
of a Bank of China branch in Athens, a representation office of
the Industrial and Commercial Bank of China in Athens and an
office of the China Development Bank. "It is a road we are
opening, that will soon become a highway," Mitsotakis said. The
Greek prime minister traveled to Shanghai last week to meet Xi
at the 2019 China International Import Expo and will be visiting
China again next spring. In April, Greece joined a Chinese trade
initiative launched seven years ago that includes mostly central
and eastern European countries. Thousands of Chinese investors
have snapped up apartments around Athens and other Greek cities
under a so-called "golden visa" scheme that offers a five-year
residence permit to buyers who spend more than 250,000 euros
($275,750) on the local property market. The increased interest
from Chinese investors combined with a burgeoning Airbnb market
have led to a spike in rents in many parts of the Greek capital
and other cities. (ANSA-AP).
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