x

Politics

Seas Dispute, Conflict Fear Hasn’t Hurt Greece-Turkey Trade Yet

ATHENS – They’re quarreling over who has the rights to the Aegean and Mediterranean for energy research, over the skies between them, and tension has often nearly reached a boiling point but Turkey and Greece are still doing business.

Even Greek Prime Minister Kyriakos Mitsotakis asking for European Union sanctions sanctions against Turkish provocations, and Turkish officials warning that if Greece extends its maritime limits from 6 to 12 miles it would be a cause for war has’t cut into trade ties.

The trade turnover in 2021, during another COVID-19 pandemic year, hit a new high, jumping as much as 69.2 percent to reach $5.2 billion, data compiled by Turkey’s Anadolu Agency said, reported Turkey’s pro-government newspaper The Daily Sabah.

Exports to Greece jumped 73.3 percent year-over-year, enabling Turkey to register a trade surplus of approximately $1 billion and the business edge, showing how critical it is even during talk of conflict and other differences.

Turkish-Greek Chamber of Commerce data showed Greece’s imports from Turkey increased by 46 percent in 2021, reaching 2.3 billion euros (more than $2.36 billion,) making Turkey the 8th biggest supplier for Greece.

While buying more Turkish products than sending Greek products, the trade for Greece was some 1.8 billion euros ($2.06 billion,) a jump of 39 percent with businesses staying above the political fray between the countries.

Before his official visit to Greece in May 2021, Foreign Minister Mevlüt Çavuşoğlu said, “I am going to Athens with a positive agenda,” as he stressed Turkey wanted to improve economic ties with Greece, the paper noted.

During Çavuşoğlu’s meeting with his Greek counterpart, Nikos Dendias, there were steps taken for 25 articles in areas ranging from transport to energy, the environment, tourism and trade, among them.

The Greek Association of Tourism Enterprises (SETE) said that the number of Turkish visitors jumped from 930,000 in 2018 to 1.9 million the next year, more than double, before COVID hit in 2020 and stalled international travel.

 

RELATED

ATHENS - A memorandum of understanding (MoU) for the electric grid networks of Greece and Egypt, known as the Greece-Africa Power Interconnector (GAP), was signed in Athens by Houston-based McDermott International and Athens-based Eunice Energy Group.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Police: 10 Wounded in Drive-by Shooting in Central Florida

LAKELAND, Fla. (AP) — Ten people were injured during a drive-by shooting in a central Florida neighborhood, police said.

UPPER DARBY, PA – St. Demetrios Church in Upper Darby, PA, bid a fond farewell to Rev.

ATHENS - A memorandum of understanding (MoU) for the electric grid networks of Greece and Egypt, known as the Greece-Africa Power Interconnector (GAP), was signed in Athens by Houston-based McDermott International and Athens-based Eunice Energy Group.

ASTORIA – The Hellenic Film Society USA launches its winter streaming season with two films by the acclaimed Greek director, Giorgos Georgopoulos.

WASHINGTON — Pay and benefits for America's workers grew at a healthy but more gradual pace in the final three months of 2022, a third straight slowdown, which could help reassure the Federal Reserve that wage gains won't fuel higher inflation.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.