Greece continues to attract American investment interest, he notes
The economic changes from American electionswill not affect Greece, notes the president of the Piraeus Chamber of Commerce and Industry in a statement Vassilis Korkidis.
Specifically, Mr. Korkidis said: I think the result of the American elections will bring some vibrations to the world economy. Despite this, foreign policy issues did not concern the election campaign, which was dominated by other issues and mainly inflation, while on a bilateral level they do not affect Greece, which maintains a long-standing strategic relationship with the USA.
The electoral battle was ultimately not ambivalent and this seems to have favored the international stock markets and of course the dollar. Major changes in US foreign economic policy are expected in the US stance towards China and towards US European allies over their military spending and NATO, with Trump having said he will raise tariffs on all imported goods by 20 % and by 60% in Chinese products. This will automatically lead to a trade war between the US with China and the EU with Germany, Italy and Ireland more exposed.
Regarding her Ukrainewill attempt a freeze on the war on the current dividing lines, with the creation of a demilitarized zone between the belligerents.
Finally, the questioning of the climate crisis and the skepticism facing climate change may lead the US to withdraw from the Paris Agreement of 2015. After all, American interest in Europe and transatlantic relations has been shrinking continuously since the beginning of the decade ’90 until today with Germany being the first victim.
The whole picture shows that while Europe is no longer as important to the US as it once was, Greece still attracts American investment interest. After the investments of the American giants Google, Amazon Web Services, Microsoft, Cisco, Meta, Pfizer and Chubb, similar interest is expressed by a number of companies in a wide range of economic sectors, recognizing the perspective presented by investment activity in the Greek market. The investments made in the high-tech sector also stand out, as 1/3 of the investments in Greek start-up companies concerned American funds with 11 new acquisitions of domestic startups. In 2023, the volume of bilateral trade between Greece and the US decreased to 3.6 billion. euros, as Greek exports of goods to the US fell by 5% in 2023 compared to the previous year, amounting to 2.1 billion. euros, corresponding to 4.2% of our country’s total exports in 2023. Similarly, Greece’s imports from the USA marked a -significant- drop in 2023, reaching 1.5 billion. euros, corresponding to 1.9% of the total imports of our country in the same time period. The USA is the 5th most important customer and the 14th most important supplier of Greece in 2023. It is noteworthy that the increase shown in the participation of American investments from 2020 with the USA in 2022 occupying the 6th place among the countries of origin of FDI in Greece with investments totaling 2.373 billion euro. Greece with Souda and Alexandroupolis and with defense spending of more than 2% as a NATO country will not need to reposition itself in the new geopolitical and economic environment that will be shaped by President Trump, but even if it needs to it will be favorable for our country . Our goal after the emphatic election of the US president is to strengthen bilateral trade, maintain a positive balance and increase foreign direct investment of US capital in Greece.
