Virtual B2B Meetings in Energy, Renewables, Environmental Technologies and Innovation
Thank you all for being here today and congratulations to the Hellenic-German Commercial and Industrial Chamber and the Greek Commercial Affairs Office in Berlin for setting-up this virtual business forum.
The Covid -19 crisis has forced us to adopt novel means of interaction. Still, I am confident that the virtual forum, building up on the success of the German – Greek Investment Forum in Berlin will prove to be equally productive.
Dear Friends,
Our meeting in Berlin was only two months ago but this already feels like a lifetime. Plentiful has changed since then.
The pandemic has been a wake-up call and a shock for all of us. It has caused unimaginable suffering and uncertainty. It has put entire countries under lock-down, devastated economies and caused a severe disruption in global trade.
Now, as most countries are exiting from their respective lockdowns, the debate is shifting on how we can best adapt at this new era and explore new opportunities.
It is clear that there will be significant implications on several fields of economic activity.
In terms of investment one of the most obvious emerging trends will be the “re-shoring push”. The crisis has underlined the need for critical industries to be based close at home. Greece is uniquely positioned to capitalize on this opportunity. We have the advantage of a favorable geographical location with extensive port infrastructures and excellent transportation links to central Europe. Furthermore, production and labor costs are significantly lower compared to western Europe.
Greece also has the advantage of political stability broadly understood. Since last summer we have a government with a comfortable parliamentary majority which is clearly pro-business oriented. Greece is a long established member of both NATO and the EU and has a solid reputation as a trustworthy western oriented democracy and a pillar of stability in the Eastern Mediterranean.
Moreover, in the field of global trade there are substantial challenges that need to be addressed.
The WTO predicts it could fall by as much as a third due to Covid-19. Even if the more pessimistic estimates fail to materialize we need to grasp this opportunity to break with old habits and build a circular, sustainable and resilient economy. For sure, protectionism is not part of the solution; diversification and less dependency is the way to go. We need a resilient multilateral trade system and we have to work hard for that. Decisions on how trade functions matter now more than ever, having in mind that international trade can support recovery. The global recovery will not be possible without open markets: On-going efforts to strengthen the global trading system must continue. For example, anticipated increases in trade distorting subsidies and protectionist measures will not help economies recover in the end.
The novel situation, we find ourselves in, also requires more innovative solutions. The crisis highlighted the importance of digital services and e-commerce. This very event we are attending today is an excellent example of adaptability and perseverance in the face of adversity. In Greece, during the lockdown we were positively surprised that businesses and consumers adapted fairly quickly to an online mode of operations. This is a solid base to expand an e-commerce ecosystem as well as and other digital activities. We plan to take full advantage of this opportunity in order to support the digital transition of Greek trade in both goods and services. Significant opportunities will be available here for innovative firms active in related industries.
The pandemic has also collided with the climate change emergency. We need to integrate the solutions to both crises in the sense that recovery programs must propel the global economy towards sustainable growth and increased resilience. Greece has already opted to terminate the use of lignite for energy production by 2028. In turn, this creates excellent opportunities in the RES and associated sectors.
As I stated previously a lot has changed in the last two months. One thing that hasn't changed are the deep ties between Greece and Germany. Greece exported €2,3 billions of goods and services to Germany in 2019 and imported €6,1 billion of goods services. Germany is the number one source for inward FDI to Greece with €6,9 billion in 2018. Furthermore, Greece is the most popular destination for German tourists with 4,026 million arrivals in 2019.
Last, but certainly not least, Germany will be the honored country in this year's International Thessaloniki Fair in September. Despite the Covid crisis, we see very strong interest from participants and therefore the fair will take place as always- albeit with with certain social distancing measures in place.
Dear friends,
Relaunching economic activity after the crisis is, of course, a priority. Protecting our citizens and guests; however, is an even greater priority.
The return to normalcy includes the resumption of activities such as the one we are participating today. I am confident that the following days will prove to be productive for all participants. It will be a testament to our ability to adapt to the new normal with only minor obstructions and - why not?- it might prove to be the catalyst that will bring us to a new era.
June 2, 2020