Athens News Agency: News in English, 06-02-23

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

CONTENTS

[01] Greece working for European prospects of Balkans, PM tells SEECP conference

[01] Greece working for European prospects of Balkans, PM tells SEECP conference

Addressing the ministers taking part in the conference, Karamanlis stressed that the wider region of SE Europe has all the prospects for making a leap in economic growth, adding that Greece looked to further development of collaborations in the economic as well as the scientific, cultural and educational sectors.

Referring more particularly to Greece's role, Karamanlis stressed that the country has a significant presence in the countries of the wider Balkans region, with 3,500 Greek companies active in the region as well as 800 branches of Greek banks in operation. At the same time, Greece comprised one of the biggest investors in the region, with invested capital estimated at 8 billion euros, while Greece was the top investor in Albania, FYROM and Serbia-Montenegro, second-largest investor in Bulgaria, and third-largest investor in Romania, Karamanlis said, adding that Greece could also serve as a gateway to SE Europe for business concerns.

Turning to the Greek economy, the prime minister stressed that fiscal adjustment was being achieved gradually, while important results were being produced, and outlined the steps taken in 15 individual areas of the economy, referring in particular to the taxation reform, the country's new developmental law, the new generation of denationalisations, the new operational framework for public corporations and organisations, the liberalisation of the energy and natural gas markets, and the strengthening of the country's economic diplomacy relations.

Karamanlis particularly stressed that a substantial reduction in taxation rates on physical entities was being prepared.

The Greek prime minister further emphasised the reforms taking place in the countries of the wider region of SE Europe, noting that this was the only responsible and forward-looking choice for the region's development. He noted, however, that the pace of the reforms was not always satisfactory, but added that the solutions would be provided by the individual countries themselves.

Taking part in the conference are the economy ministers of the 10 SEECP member countries -- Albania, Bosnia-Herzegovina, Bulgaria, Croatia, FYROM, Greece, Romania, Serbia-Montenegro, and Turkey, while Moldova currently has observer status but is slated to be offered full membership at the SEECP summit to be held in May, marking the end of the Greek chairmanship of the group, which will be assumed by Croatia. Also participating as guests are representatives of the current Austrian presidency of the European Union and the Office of the SE Europe Stability Pact Special Coordinator.

SE European states seek common market regulations

Economy ministers from Southeast European countries are seeking a "common platform" to unify stock market regulations, Greek Economy and Finance Minister George Alogoskoufis said here on Thursday.

Speaking to reporters after a meeting of economy ministers representing countries in the Cooperation Process of Southeastern Europe, the Greek minister said there was a discussion between ministers with the aim to agree on a "common platform" of capital market rules in the region, part of efforts to boost transparency and credibility.

The ministers agreed on a joint statement after exchanging views on market deregulation, improvement of infrastructure and boosting cross-border trade.

Alogoskoufis said he did not share the view that labour cost was a comparative advantage for Greece and called for an improvement of Greek products "otherwise the country will not be able to compete with other countries on labour cost".

"Each country has its own comparative advantages," he added.

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