Mitsotakis lightning visit to Beijing to meet with the Chinese leadership

Mitsotakis & Chinese President Xi Jinping

Prime Minister Kyriakos Mitsotakis is making a lightning  24-hour trip to China and will meet with the entire country's leadership, specifically President Xi Jinping, Prime Minister Li Chiang and Chairman of the National People's Congress Zhao Leji.

The official visit of the Greek prime minister to the large Asian country had been planned for a long time. Aside from Beijing, Mitsotakis was also planning to visit Shanghai for the CIIE exhibition (China International Import Expo), where there is a Greek stand in which 20 Greek companies participate.

However, due to the developments in the Eastern Mediterranean, the prime minister will return to Athens immediately after the meetings with the Chinese political leadership.

He will be represented at the Shanghai Exhibition by the Minister of Transport, Christos Staikouras and the Under-Secretary of Foreign Affairs responsible for Economic Extraversion, Kostas Fragogiannis, who will accompany him.

According to government sources, the visit to Beijing is expected to be an opportunity to discuss issues of bilateral cooperation and issues of regional and international interest, focusing on developments in the Middle East and the latest developments in Ukraine.

It is noted that China is a member of the UN Security Council and can play an important role in regional and international security issues and maintaining international peace and stability.

The same sources report Greece seeks to strengthen bilateral trade relations and increase Greek exports to China, particularly in agricultural and standardised products. There is also scope for further strengthening ties in tourism, as China is a large market.

The visit, they note, takes place after the upgrade of the Greek economy to investment grade by S&P.

At the same time, it is pointed out that recently, two of the largest Chinese rating agencies, Lianhe Credit and Chengxin Rating Group, upgraded the creditworthiness of our country to investment grade.

The Greek prime minister will emphasise to his interlocutors that open communication channels with China and cooperation in dealing with global challenges, such as climate change, are necessary to construct mutually beneficial relations.

Greece maintains good relations with China, while due to cultural ties and geopolitical position, it can act as a bridge between the E.U. and China for a more balanced relationship.

As Kyriakos Mitsotakis mentioned recently, China is a competitor, and this is the position of the European Union in the context of the economic security of the EU.

Addressing global geopolitical challenges, de-risking relations with China and reducing dependence on critical raw materials are promoted. At the same time, the trade deficit of the E.U. against China reached 400 billion euros.

Fragogiannis in Beijing and Shanghai

Deputy Foreign Minister for Economic Diplomacy and Openness Kostas Fragogiannis, accompanied by the general secretary of international economic relations and openness Maira Myrogianni, will visit China on Thursday.

The first stop on their trip will be in Beijing, where Fragogiannis will meet Prime Minister Kyriakos Mitsotakis and accompany the premier to his official engagements on Friday, 3 November.

Later, Fragogiannis and Myrogianni will travel to Shanghai to attend the opening of the 6th China International Import Expo (CIIE) on Sunday, as well as an event that will take place at the Greek national pavilion in the exhibition.

Greece is participating in the exhibition with a national pavilion based on the thematic sections: industry/constructions, shipping, high gastronomy/Mediterranean nutrition, tourism, and culture, as well as with a pavilion in the food sector with the participation of 20 Greek companies. Responsible for the Greek participation in CIIE is Enterprise Greece.

The attendance of the Greek government's economic diplomacy team at Shanghai's exhibition aims to provide tangible support for Greek entrepreneurship in international markets and promote bilateral trade relations with China.

China congratulates Greece on credit rating upgrade, Greek Econ Min says

On Monday, a congratulatory note was sent to the National Economy & Finance Ministry by the Embassy of the People's Republic of China, welcoming Greece's upgraded credit rating upgrade to investment grade by two of China's largest credit rating agencies.

The upgrade reflects China's confidence in Greece's improved economic state, the reduced threats to its banking system, the dynamic of the reforms, and the prospects for development.

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. Chengxin Credit Rating Group raised the country's credit rating to B- from BB+ with a stable outlook on October 26.

China assesses that Greece's achievement of restoring its investment grade rating will contribute significantly to attracting Chinese investments to the Greek market and positively affect the two countries' dynamic economic and trade collaboration.

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