Economic Diplomacy
Economic Diplomacy constitutes one of the most significant elements of diplomacy in the modern era. The Ministry of Foreign Affairs designs and implements a multidimensional and ambitious plan aimed at the overall development of the Greek economy, through the promotion of export activities of Greek companies and the attraction of foreign investments, as well as through a series of other actions aimed at strengthening Greece's bilateral and multilateral economic & commercial relations with partner countries as well as within the framework of international and regional economic organizations and initiatives.
The strategy of Economic Diplomacy is outlined by the competent Deputy Minister for Economic Diplomacy and is implemented by the General Secretariat for International Economic Relations, which oversees the activities of the Directorate of International Economic Relations and the network of Economic and Commercial Affairs Offices . The activity of the ECA Offices which operate in select Diplomatic Missions (Embassies and Consulates General) of Greece abroad, is showcased through the Agora portal, where useful information of Greek exporters is posted, such as market research reports for specific sectors of the economy and Doing Business guides for the markets of the respective countries.
The Ministry of Foreign Affairs also ensures the creation of appropriate conditions for the facilitation and enhancement of the presence of Greek businesses in international markets and for attracting foreign investments, through the joint formulation of relevant policies within the framework of the European Union, the World Trade Organization, and other international economic institutions, as well as through the improvement of the bilateral institutional framework for economic cooperation with third countries. In this effort, the Embassy and Consular Authorities, along with the Economic and Commercial Affairs Offices (ECA Offices), particularly those in third countries, play a significant role in investigating the terms of access to each market, identifying potential barriers and cases of agreement violations, and most importantly, in assisting Greek businesses that are active or wish to become active in the markets under their responsibility.
The national Trade & Investment Agency, Enterprise Greece plays a central role in the promotion of Greek products & services abroad, as well as in the attraction of foreign investments. On the export promotion front, it organizes the participation of Greek exporting companies at the Greek national pavilion in international trade exhibitions and on the investment attraction front, it provides support to potential foreign investors for the implementation of projects in priority sectors of the Greek economy such as energy, tourism, transportation, healthcare, etc. Furthermore, the national Export Credit Agency, Export Credit Greece, provides essential supportive services to the export activities of Greek companies, including the insurance of goods exported by Greek companies to foreign markets.
Special mention should be made of the field of Energy Diplomacy, given the global challenge of climate change which requires, on one hand, the rapid development of energy production from renewable sources and, on the other hand, the implementation of multi-level infrastructure projects to achieve interconnectivity of energy pipelines and electricity with a wide range of partner countries to ensure energy security both for Greece and Europe. Additionally, within the competence of the General Secretariat for International Economic Relations lies the Directorate General for Developmental and Humanitarian Aid, Hellenic Aid, which is responsible for promoting, managing, and implementing the national policy of international development cooperation and humanitarian aid.
