Athens News Agency: News in English, 05-03-23

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Hellenic Petroleum to build diesel plant

[02] Twinning of Thessaloniki, Alexandria trade Chambers

[03] Cargo shipowners welcome government backing for the sector

[01] Hellenic Petroleum to build diesel plant

"The market needs diesel...The investment will be made in Athens or Thessaloniki," Kavoulakos said.

"As a result Hellenic Petroleum will be investing in distribution in Greece, Bulgaria and Serbia in order to strengthen its position in the market,"

he added.

Kavoulakos was addressing parliament's production and trade committee, which is studying the terms of a development ministry bill on controls for distribution and storage of petroleum products.

[02] Twinning of Thessaloniki, Alexandria trade Chambers

Welcoming the cooperation protocol was the secretary general of trade, Dimitris Vrettakos, who repeated that Greece was seeking closer business ties with Egypt following a visit to the Arab country late last year by Prime Minister Costas Karamanlis.

"I would underline the strong ties of friendship between the two states, as well as the new climate of business cooperation created since Mr Karamanlis' visit to Cairo," Vrettakos told reporters.

Signalling the impetus for a new chapter in economic links between the two countries has been the trip to Egypt this week by a 40-member delegation headed by Vrettakos and arranged by the Arab-Hellenic Chamber.

Corporate investments in Egypt by Greek firms top 500 million US dollars, led by Titan Cement Co., Zeritis, the Vardinoyiannis group and Chipita snacks.

The delegation on Sunday met Egypt's assistant minister of international economic affairs, Daoulat Hassan, who said she backed further strengthening economic cooperation between the two countries.

According to the Greek embassy's counsellor for trade and economic affairs, Dimitris Nikas, business ties between the two countries have been further reinforced by an agreement allowing mutual protection of investments; and a pact on avoidance of double taxation that is in the final stage of formulation.

[03] Cargo shipowners welcome government backing for the sector

"After many years, we have seen the Greek state attributing to shipping, the country's primary industry, the weight it deserves," Efthymiou told the news conference.

"Shipowners are especially satisfied with the country's presence abroad, both at a government and sector level," Efthymiou said.

Asked to comment on investment, the UGS chief stated that the largest investment was the roughly 17.5 billion US dollars in the form of foreign exchange from shipping in 2004, up 40% from a year earlier.

At the same time, further corporate investment required elimination of red tape.

"If this problem is not solved, investments won't be made," Efthymiou added.

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