CHINA TOPIX

11/22/2024 05:22:16 am

Make CT Your Homepage

China's Premier Li Leaves Greece, Concludes Fruitful Europe Tour

Chinese Premier Li Keqiang talks with Greek Prime Minister Antonis Samaras during their meeting in Greece on June 17, 2014.

(Photo : Reuters)

ATHENS - Chinese Prime Minister Li Keqiang left for China on Saturday after a six-day visit to Greece and Britain, where his country made major investment and trade deals.

Li arrived Thursday afternoon in Athens to meet with Greek Prime Minister Antonis Samaras. The two leaders oversaw the signing of investment deals worth US$4.6 billion as well as several major cultural and economic bilateral agreements that cover shipping, logistics, property and energy sectors, according to the Greek Development Ministry.

Like Us on Facebook

China looks to Greece as its strategic gateway to Europe for international trade in the Middle East and the Far East. Since Samara's visit to China shortly after Li took office last year, the two countries began advancing mutually beneficial projects in major infrastructure areas.

The breakthrough COSCO investment in the port of Piraeus in 2009 paved the way for China's involvement in Greek infrastructure, specifically in transforming it into a regional transportation hub. Li describes Piraeus as one of the most competitive ports in the world. Since COSCO's operations of two Piraeus container terminals, China has already reduced the average importation trip via the Suez Canal to as little as seven days.

China looks to invest US$310 million in expanding the port - a deal that requires the approval of the European Union.

Li's recently concluded visit expands on the pioneering concessions with the Chinese shipping giant, creating tangible progress in trade agreements, privatization schemes, shipbuilding, tourism and other investment plans.

Li reached Greece after wrapping up his visit with Britain's Prime Minister David Cameron in London, where he proposed to expand bilateral trade with Britain to US$100 billion by 2015.

Real Time Analytics