Greek PM's China visit will inject new impetus into bilateral ties

Editor's note: Moulik Jahan, a special commentator on current affairs for CGTN, is a strategic and security affairs analyst. The article reflects the author's opinions and not necessarily the views of CGTN.

Greek Prime Minister Kyriakos Mitsotakis is now on an official visit to China from November 2 to 3, at the invitation of Chinese Premier Li Qiang. This is an important step towards furthering the connections between the two ancient civilizations. Mitsotakis' visit aims to develop diplomatic connections, build a mutually advantageous relationship and enhance strategic and economic ties.

Greece and China are complete strategic partners that have a long history of cordial interactions. They have been diplomatically linked for 51 years, exhibiting mutual understanding and collaboration and encouraging peaceful cohabitation. Greece actively supports China's Belt and Road Initiative (BRI), and China's investment in COSCO Shipping in Piraeus has made Greece's main port a competitive port.

For these reasons, China constantly assesses its relationship with Greece. In 2019, Chinese President Xi was greeted by Mitsotakis in Greece. Xi paid a visit to Piraeus Port, which is a flagship project of the China-Greece Belt and Road partnership. This official visit produced cultural and economic results, including the signing of 16 new agreements to cooperate on infrastructure, agricultural, and renewable energy projects.

China's future collaboration with the Central and Eastern European Countries (CEEC), was enhanced by Xi's visit to Greece. Thus, Greece's unwavering affinity with China is shown in PM Mitsotakis' China visit. Cooperation between China and Greece is mutually beneficial and "should be an example" for cooperation between China and other European countries.

Making Athens a diplomatic and economic bridge between Europe and Asia is one of the objectives of Greece. Greece's position as a vital maritime center for European trade with Asia is being strengthened by its participation in BRI. Beyond Greece and China, the benefits of BRI extend to both Asia and Europe, as demonstrated by the China-Europe Land-Sea Express Line, which originates at Piraeus Port, as well as conventional marine routes and China-Europe freight trains.

Furthermore, China has made substantial financial contributions to Greece's energy industry and is making substantial investments in the renewable energy space, which is important for both China and Greece. Significant economic and social advantages have resulted from the State Grid Corporation of China (SGCC)'s cooperation with the Greek national energy grid project. China's investment resulted in the creation of new employment, which greatly improved the port's surrounding community.

PM Mitsotakis' visit bears significant actions with geopolitical and economic implications. Greece is attempting to assert itself as a proactive pillar of stability in the larger Mediterranean region and to carry out the economic diplomacy strategy. China, as an advocate for global harmony, can work with Greece collaboratively to ease regional tensions.

In February this year, President Xi replied to a letter from Professor Stelios Virvidakis of the University of Athens and four other Greek scholars. Hailing the long history of the Chinese civilization and the profound influence of the ancient Greek civilization, Xi said in the letter that more than 2,000 years ago, the two civilizations shone brightly on the two ends of the Eurasian continent, jointly making a fundamental contribution to the evolution of human civilization.

As Greece prepares to take part in the 6th China International Import Expo (CIIE), commercial links between the two countries will grow even further. As such, it would showcase Greece's comparative advantages at the 6th CIIE, which is scheduled to take place in Shanghai from November 5 to November 10.

Recently, China Lianhe Credit Rating Co. (Lianhe Credit) raised Greece's long-term credit rating to BBB from BBB- with a stable outlook on October 27. Greece was then congratulated by China for receiving an investment-grade credit rating. China expressed confidence in Greece's better economic condition, continued reforms, and possibilities for growth. China believes that Greece's acquisition of an investment-grade rating would greatly improve its capacity to draw Chinese investments into the Greek market, resulting in favorable consequences for the two nations' vibrant economic and trade cooperation.

Beijing-Athens relations should be stimulated by deepening economic links, Chinese investment in shipping finance, collaboration in research and technology, agriculture, climate change, green economy, digital economy, technological innovation, and the service sector. There is a lot of space for collaboration between the two countries in terms of enhancing social welfare, the economy, and climate change mitigation.

China and Greece have the potential to strengthen commercial ties, support stable supply and industrial chains between China and Europe, encourage economic integration in the Balkans, and further EU integration in the future. The visit will inject a new impetus between China and Greece.

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