China-Greece memorandum benefits both countries

World
Europe

The Memorandum of Understanding (MOU) signed by the foreign ministers of China and Greece has had a positive impact on bilateral ties as well as the Belt and Road Initiative, said a Foreign Ministry spokesperson on Tuesday.

"The MOU will inject a new driving force for China-Greece practical co-operation," said spokesperson Hua Chunying, quoting Chinese State Councilor and Foreign Minister Wang Yi.

China and Greece have recently seen significant benefits from their bilateral co-operations. The Port of Piraeus is a case in point.

Port of Piraeus. /VCG Photo

Located in southeastern Greece, the Port of Piraeus, with 55 shipping lanes, ranks 36th among the busiest ports in the world, rising from the 93rd back in 2010.

About 16 to 18 container railways head for central and eastern Europe from the port each day, and the port contributed about 600 million euros (700 million US dollars) to the Greek economy by creating over 10,000 jobs there.

Foreign Ministry spokesperson Hua Chunying. /Ministry of Foreign Affairs Photo

Against the backdrop of rising protectionism and unilateralism, the Eurasian continent represents a crucial region for the construction of the Belt and Road which signals the benefits of multilateral cooperation as well as an exploration of enhancing global governance and facilitating investment, said Hua.

China and Greece, along with other European countries, will strive to boost co-operation under the Belt and Road Initiative, and coordinate the Initiative with the European investment and interconnection programs, creating fresh opportunities for Asian and European countries, said Hua.