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Economy

German Amb. Reichel: Pandemic Did Not Paralyze Greece’s Economic Transformation

ATHENS — The 5th German-Hellenic Economic Forum was launched online on Tuesday by German Ambassador to Greece Ernst Reichel.

Reichel referred to German investments of the last 25 years in the fields of telecommunications infrastructure and the pharmaceutical industry, "which essentially contributed to Germany securing the position of the largest foreign investor in Greece." Above all, he continued, these investments have contributed to the country's modernization, and have secured many jobs in the difficult economic years which Greece has left behind," he noted.

On Twitter, the Ambassador wrote that "emblematic German investments in Greece by Volkswagen, RWE or Fraport go beyond rhetoric, have scale and substance."

New opportunities for attractive investments in Greece are emerging from the economic recovery plan drafted by the government titled "Greece 2.0", in the framework of the European Recovery Fund NextGenerationEU, and "which rightly enjoys great recognition," he stressed. The sectors of digitization and green energy transition are in the forefront, he underlined, and he said "I am glad that the Greek government is represented here today by various ministries in order to talk to businessmen from Germany."

It is rather positive that the Greek government attaches so much significance to economic and technological cooperation with Germany, and that the months-long pandemic has not paralyzed the country's economic transformation and reforms for the improvement of the economic climate, highlighted Reichel.

Despite the coronavirus pandemic, Greek-German economic relations have an increasing trend, noted Dr. Volker Trier, CEO of Foreign Trade of the Association of German Chambers of Commerce & Industry (DIHK), speaking at the event. This increase could be described as unique and impressive, he continued. German exports to Greece increased by 10 pct and imports to Germany from Greece over 23 pct compared to the previous year. "This is very good and gives us courage to go further, to start from this point and continue," he said characteristically.

The German-Hellenic Economic Forum is organized by the German Hellenic Chamber of Industry & Commerce, with support from the Association of German Chambers of Commerce & Industry (DIHK), under the aegis of the Greek Development & Investments Ministry, and Athens-Macedonian News Agency (ANA-MPA) is a media partner.

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