Greek National Day by MM

Monday, March 25, 2013

Supplement

Saudi-Greek trade marks significant increase Saudi citizens can now get Schengen visas for hassle-free entry into the European Union within 48 hours, Greek Ambassador Dimitrios Letsios told Abdul Hannan Tago of Arab News. In an exclusive interview on the occasion of Greeceâ&#x20AC;&#x2122;s National Day, Ambassador Letsios said that Saudi Arabia is the ninth most important destination for Greek products.

Here is the complete text of the interview: On the occasion of your National Day, how do you see the growth potential in bilateral ties between your country and Saudi Arabia? Can you mention some figures related to trade exchange? Saudi Arabia has a favorable balance of trade vis-Ă -vis Greece due to oil and its derivatives, which are a dominant element of Greek imports. Even so, Greek exports increased almost 145 percent compared to 2010 during 2011 (the best performance ever in the last two years) due to the export of food stuffs, building materials, margarines, processed agricultural products and other items. In 2010, there was a significant increase of about 69 percent compared to 2009. For the year 2012 this trend continued, placing Saudi Arabia as the ninth most important destination for Greek products. During the same period in 2011, Saudi Arabia occupied the 27th position. What areas leave room for growth? The food sector is a promising area for Greek companies in terms of bilateral cooperation. Other areas that contribute effectively to enhancing bilateral business cooperation are the construction and building material sector, the energy sector (wind-energy, solar-energy and others), the environmental protection and services sector (such as health and hospital care), water management resources and the real estate sector. In all of these, several Greek companies have the necessary experience and know-how. On what sectors is Greece focusing on with Saudi Arabia? Increasing the flow of visitors, as well as people-to-people contacts between our countries is one of our major goals. In the past, Saudis knew Greece very well and used to visit our country often. Unfortunately, in recent years, the image of Greece in Saudi Arabia has been somewhat distorted by inaccurate media reports. Saudis who go to Greece discover an ideal destination to conduct business and recreation. They tend to become repeat visitors. We aim to facilitate the issuance of visas for Saudi citizens as much as possible. In most cases, we can now issue Schengen visas for Saudi citizens in less than 48 hours. The promotion campaign for Greece as an

attractive tourist destination within the Saudi market, as well as the re-opening of direct flight connection between Athens, Thessaloniki and other Greek tourist destinations with Riyadh and other major cities in Saudi Arabia, are key contributors to the development of bilateral tourism relations. Please tell us about the current economic situation in your country. Where does it rank in the international market? Greece is in the middle of a fairly difficult process of the fiscal adjustment of key macroeconomic indicators by implementing painful but necessary structural reforms in key areas. At the same time, we are rationalizing our public finances. A year ago, many analysts anticipated that a Greek default and exit from the euro area was almost inevitable. The risk of collapse has been averted and confidence is gradually being restored. Where we stand today bodes well for the future. It can be reasonably expected that real economic recovery will come fairly soon, provided that certain conditions are fulfilled. Comparing the current situation with where we stood just a few months ago, it is clear that much has been changed for the better. We can now expect, with reasonable certainty, that the steps made so far are indeed leading Greece out of the crisis

Dimitrios Letsios

and onto a path of growth. We have already come most of the way on a long and difficult road at tremendous cost to Greek citizens and businesses. The groundwork has been laid for dealing with long-standing problems of the Greek economy. Now that the end of this road is finally in sight, we need to intensify our efforts and quicken our pace to cover the remaining distance and ensure that the citizensâ&#x20AC;&#x2122; sacrifices will not be in vain and that, better yet, a promising future lies ahead. Is there any plan for a Saudi delegation to visit your country? For the time being, any visit of a Saudi delegation to Greece is not foreseen. On the contrary, from April 12 to 17, a Greek business delegation will visit Jeddah and Dammam. It will be a 14-member Greek delegation from the food sector. They will have business-to-business meetings with Saudi companies in both cities. The Hellenic Export Promotion Organization (HEPO) organizes this business mission in close cooperation with the Office for Economic and Commercial Affairs of our Embassy in Jeddah and the Chambers of Commerce in Jeddah and Dammam respectively. Greece will also participate for a second year with 14 Greek companies in the BIG5 SHOW, an international exhibition in Jeddah for the building material sector. We are also considering participating in the upcoming international food exhibition JEDDAH-FOODEX, which is to take place in December in Jeddah. Preparations for the fourth Inter-Ministerial Joint Committee on Economic & Technical Cooperation between Greece and Saudi Arabia, to be held in Riyadh, are underway. Holding the InterMinisterial Committee is a sign from both sides of their mutual commitment to promoting bilateral economic cooperation and concluding still pending bilateral agreements in the fields of tourism, investment, energy cooperation, to mention just a few. Please tell us about Saudi investments in Greece? Saudi investments in Greece are limited mainly to the field of real estate. Most Saudi investors are interested in buying homes in various tourist destinations in Greece and recently, a relatively small interest has been seen for transferring Saudi Arabian funds to Greece to participate in different programs of selling sparesorts or hotels.

Monday, March 25, 2013

Supplement

Saudi-Greece relations: Routes and perspectives

reece is widely eration and concluding still pendknown as being the ing bilateral Agreements in the birthplace of democfields of tourism, investment, energy racy, literature, history cooperation, to mention just a few. and philosophy, Greece combines a stunning among many others. However, it is landscape; clean waters and beachnot only the lure of history that es, Mediterranean hospitality as well brings foreign travelers to Greece. as excellent climatic conditions for Greece is one of the most beautiful, tourism throughout the year. For hospitable and exciting destinations this reason approximately 18 milaround the globe, as well as one of lion tourists annually prefer Greece the safest and most affordable placas their holiday destination. es to live. In Greece you are standing Greece is, in the present juncture, at crossroads of cultures, colors and in the middle of a fairly difficult civilizations. process of fiscal adjustment of key Dimitrios Letsios Diplomatic relations between macroeconomic indicators by Greece and Saudi Arabia started implementing painful but necessary from as early as 1926. The first Greek Embassy in the structural reforms in key areas and at the same time Kingdom was established in Jeddah in 1943, but in to rationalize public finances. 1963 the Greek Embassy was moved to Riyadh, where A year ago many analysts anticipated that a Greek it became operational in 1985. default and exit from the Euro area was almost ineviThe most important landmark in recent years was table. The risk of collapse has been averted and confithe official visit of the President of the Hellenic dence is gradually being restored. Where we stand Republic Karolos Papoulias to Saudi Arabia in 2006, today bodes well for the future. It can be reasonably where he met with the Custodian of the Two Holy expected that real economic recovery will come fairly Mosques King Abdullah. soon, provided that certain conditions are fulfilled. Greece has a longstanding relationship with the Comparing the current situation with the one preArab world. Saudi Arabia has for a very long time been vailing just a few months ago, it is clear that much has one of the top markets for Greek products in the been changed for the better. We can now expect, with Middle East region, and food products have always reasonable certainty, that the steps made so far are been one of the top exports of Greece to the Kingdom. indeed leading Greece out of the crisis and onto a path The prospects for further strengthening the existing of growth. trade, investment and general economic ties between Greeks and Arabs have both age-long histories. Our the two countries are particularly encouraging, as the cultures are very well equipped to point to everything Greek and Saudi governments are in the process of we have and can build together in order to promote working jointly on a number of initiatives for enhanc- peace and collaboration. ing contacts and cooperation between the two counOur monuments, our arts and our sciences, regardtries’ business communities. Greece is a promising less of place and time of origin are a heritage to the market to Saudi businesses, as well as a gateway for world. their entry into the European markets. Celebrating the anniversary of the National day of Preparations for the 4th Inter-Ministerial Joint Greece in the Kingdom of Saudi Arabia, we are looking Committee on Economic and Technical Cooperation forward to promoting and further expanding the close, between Greece and Saudi Arabia, to be held in friendly relations between the two countries. Riyadh, are under way. Holding the Inter-Ministerial n Dr. Dimitrios Letsios Committee is a sign from both sides of their mutual Ambassador of Greece to Saudi Arabia commitment to promoting bilateral economic coop-

Greece has a lot to offer

he 25th of March, is a day of celebration for all Greeks. It is a memorial day for all those who fought heroically and gave their lives for freedom and independence. Those who overcame the skepticism of outsiders and established a sovereign new state, based on the democratic principles of classic and modern Greece. The effort to defend a sovereign state continues and nowadays our coalition government is implementing a bold program of structural reform with the goal of improving macroeconomic prospects, boosting growth and creating employment opportunities. This effort has had so far impressive results. In January, instead of the 413 million euro primary deficit forecast predicted, a 398 million euro primary surplus was achieved. In the years 2010 to 2012, 75 percent of our competitiveness was recovered compared to the year 2001. Within 2013, 100 percent recovery is expected. The Greeks maintain since antiquity historical and cultural ties with

the peoples of the wider Middle East and the Arabian Peninsula, not just ties of friendship, but often ties of brotherhood. This region is a part of the wider neighborhood of our country and is therefore given priority in our foreign policy. Our mission is to take advantage of the longstanding cooperation between Greece and Saudi Arabia to further strengthen the ties between our two people. In practice there has been a growth of joint ventures between Greek and local companies in the agrarian and food industries as well as in construction. At the same time we are witnessing a technological transfer from Greece to Saudi Arabia with the arrival of various Greek experts, particularly in the field of aquaculture. I would like to mention that we have in Jeddah a few international groups of Greek origin with worldwide activities and a presence of over 50 years in the KSA. They play a key role in shaping our country’s image and enhancing the ties between Greece and Saudi Arabia, as also all the Greeks, who live and

work in this hospitable country, in Jeddah and the Western Region, notably as the professors of KAUST and the researchers of the Hellenic Center of Marine Research. They all contribute to strengthening ties between our two countries with their scientific research in the Red Sea in collaboration with Saudi authorities. The tourism industry of our country constitutes a vitally important economic sector, occupying the most prominent place in the Greek economy, by contributing to its development. At the same time, the industry

is elevating the country to one of the top 10 destinations worldwide. For the specific market of Saudi Arabia and the Gulf our aim is to cooperate with tour operators who promote specialized market packages in accordance with the interests of tourists. The new vision of Greek tourism highlights the differential quality tourism product, by attracting more tourist consumers, experienced travelers, sensitive to the quality. The thematic axes forming the foundation of the country’s tourism product for the next years are: Sun & sea; culture; diving; health & wellness; tourism; luxury tourism; nautical; city breaks; mice & touring. Ladies and gentlemen, dear friends, Athens is very close to Jeddah, via a direct flight, as far away as Dubai. You can enjoy your vacations in Greece even for a long weekend. This summer you are welcome to spend your holidays in Greek islands. n Chronis Polychroniou Consul General of Greece

HRADF offers largest investment scheme in the world

Astir Vouliagmenis is one of the potential sites for real estate investment in Greece. RIYADH: ARAB NEWS

he Hellenic Republic Asset Development Fund (HRADF) was established on July 1, 2011 under the medium-term fiscal strategy. The new law aimed to restrict governmental intervention in the privatization process, and its further development within a fully professional context. The Fund is a “société anonyme”, of which Hellenic Republic is the sole shareholder with a share capital of € 30 million. The Fund is not a public entity and is governed by private law. The assets transferred to it by the state do not form part of its share capital and can be grouped in three categories: Real estate; Company shares; and Rights. Specifically, the following have been transferred to the Fund by Interministerial Committee Decision: Thirtyfive real estate buildings; Shares of Athens International Airport S.A.; Shares of Hellenic Petroleum (HELPE); Shares of ODIE (Hellenic Horse Racing); Shares of Ellinikon; Shares of LARCO; Shares of the Athens Water Supply and Sewerage

Company (EYDAP); Shares of Thessaloniki Water Supply and Sewerage Company (EYATH); Shares of OLP; Shares of OLTH; The economic rights of Hellenic Motorways; Shares of the Hellenic Football Prognostics Organization (OPAP); Shares of ALPHA Bank; Shares of National Bank; Shares of Piraeus Bank; Rights of natural gas storage in South Kavala; Rights of State Lottery Tickets; Gaming Rights to Hellenic Football Prognostics Organization (OPAP); Rights of 39 Regional Airports; Rights of “Mobile Spectrum”; Rights of “Mobile Telephony Frequencies”; Shares of Voting Rights of Hellenic Post (ELTA); Voting Rights of 10 Ports. The Hellenic Republic privatization scheme is the largest declared investment program in the world. It is aiming at attracting significant international capital flows that will contribute to restarting the Greek economy and fuel economic growth. The HRADF efforts will be based on three pillars: Clarity of purpose, transparency of process and speed. All announcements concerning the

Fund are posted on the Internet, at HRADF website, in order to provide full information and transparency. Astir Vouliagmenis is one of the potential sites for real estate investment in Greece. Situated 20 km from the Athens center and 25 km from the Athens International Airport,on a peninsula by the sea, known as “Mikro Kavouri”, in Vouliagmeni, Athens. The adjoining properties are the Astir Palace hotel complex (owned by the National Bank of Greece — NBG) and the Vouliagmeni Marina (in the process of privatization by the Public Properties Company; Contractor is the Astir Palace group). The nearby Lemos area is the highest priced residential area of Athens. Size: 119.800 sq.m. (exploitable approx. 111.942 sq.m.) The overall property has the potential to be further developed into a large scale integrated tourism / leisure / residential project around the existing hotels on a prime property. HRADF in tends to proceed with the necessary steps set out in the new legal framework to contribute in the development of the property.

Monday, March 25, 2013

Supplement

Greece one of top tourism destinations

Al Ajlan building ties with Greece JEDDAH: Arab News

M Left, Greece is famous for antcient archaeological sites. Right, view of Acropolis at night. RIYADH: ARAB NEWS

reece mainland and the Greek islands are one of the favourite holiday destinations in the world. Most tourists come to Greece from Europe, especially the EU countries, and from the USA, while fewer originate from the other continents. The islands are the main characteristic of Greece’s morphology and an integral part of the country’s culture and tradition. Greek sovereign land includes 6,000 islands and islets scattered in the Aegean and Ionian Seas, of which only 227 islands are inhabited. This is a truly unique phenomenon for the European continent. The Greek Archipelago takes up 7,500 km of the country’s total 16,000 km coastline, offering a highly diversified landscape: beaches stretching over many kilometers, sheltered bays and coves, sandy beaches with sand-dunes, pebble beaches, coastal caves with steep rocks and dark colored sand typical of volcanic soil and coastal wetlands. Many of these Greek beaches have been awarded the blue flag under the Blue Flags of Europe Program, providing not only swimming,

but also scuba diving, snorkeling, water skiing, sailing and windsurfing. Some of the oldest European civilizations developed on the Greek islands (Cycladic, Minoan civilizations, etc.), so therefore the islands have unique archeological sites, a distinctive architectural heritage and the fascinating local traditions of a centuries-old and multifaceted civilization. Mykonos, with its cosmopolitan character; Santorini, with the most romantic sunset in the world; Rhodes, the island of the medieval castles, the sun and the butterflies; Crete, with its revolutionary spirit; Corfu, with its Venetian style; Ithaca, the homeland of Ulysses; Samos, the greenest of all Greek islands; Skiathos, with its long and sandy beaches; all these constitute just a few examples of the most famous Greek paradises. Family vacations Smiley faces and hospitality, family warmth and peace, security, untouched nature and magnificent food give a unique combination, making Greece number one family destination worldwide. In the summer, families will have the chance to swim in clear, safe, turquoise water at one of the many blue flag beaches of the country. Picturesque tavernas offering dishes made with pure greek

ingredients add to the delightedness of the visitor. In the fall, the stunning colors of the landscape and the relatively warm weather call for touring. This period is ideal for trips down the history line, walking through the impressive stone palaces of the greek castle-cities spotted all around the country. The medieval atmosphere of Mystras and Monemvasia guarantee the uniqueness of the experience. Athens of course is another choice one can make. Children and parents will enjoy themselves in a museum or a recreational park – the Acropolis museum, children’s museum in Plaka, or Attica Zoo Park, one of the biggest throughout the Balkans, can offer much pleasure and activities. On the mountain hills that surround Athens, like Parnitha, you can have a picnic or ride a bicycle, while Athens Riviera, with its beautiful beaches, luxurious shopping malls and famous restaurants give a whole different leisure plan. In wintertime, one shouldn’t miss visiting famous winter resorts such as Pilio, Arachova and Kalavrita, where traditional cuisine, picturesque villages, the magnificent landscape,ski and snowboard activities guarantee to satisfy all your demands.

Coming spring, when nature is reborn, expose yourself to its marvelous beauty by visiting lake of Kastoria or lake of Ioannina. Stroll by the lake’s bank, rent a water bicycle or a traditional wooden boat or go water skiing! There are also many forests along the country, like Strofilia in northwest Peloponnese or Dadia, covering the mountains of Evros, where you can only lose yourself in the endless green. Spas Greece is one of the richest countries in the world in terms of natural spas. Thermal and mineral springs appear at 850 different geographical locations. In addition to revitalising the spirit, the large number of mineral springs in Greece offers visitors an opportunity to receive treatment for chronic conditions in a natural way (hydrotherapy). Ailments like arthritis and rheumatic disorders are traditionally associated with the elderly, and therefore everyone believes that spas are for the “therapeutic” treatment of mainly senior citizens. However, the beneficial properties are much broader as they also benefit people of all ages. They start by improving appearance (concerns mainly the condition of the skin) and arrive at the more generalized feeling of relaxation and well-being.

ohammed Al Ajlan, CEO of Al Ajlan Company, a well-established Fashion company in the Kingdom of Saudi Arabia for the last four decades, is now focusing on building and developing an excellent business relationship with Mohammed Al Ajlan Greece through introduction of Greek fashion portfolio into the KSA market. In collaboration with Greece brands Al Ajlan Company currently opened exclusive and successful stores in Saudi Arabia in apparel and shoes. Representing well performing brands such as Exe, Energiers, Attrattivo, Sugarfree, Lussile, Axel & Matou France and looking forward to opening more new branches throughout the whole Kingdom. I, Geromoschos Athanasios have been cooperating with companies in Saudi Arabia since 1979 from my office and all these years of experience along with my professionalism, allowed me to create not only good clients, but also trusted friends. Al Ajlan Company was very receptive to cooperating with the Greek companies I indicated, and our cooperation, one year long, is very positive. Our aim is to launch a big turnover, not limited only within the Greek territory. Of course we extend to broader options, more than clothing and footwear. Great support was provided to us not only by the ex-ambassador of Saudi Arabia in Greece, Al Ghamdi, but also by present Ambassador Dr. Krimly. Their professional service on visa issuing and attesting documents sector was irreplaceable, and I strongly believe that a part of our successful cooperation, is due to their assistance. My warmest thanks to the Embassy of Saudi Arabia in Greece.