Ioannis Tsamichas at Naftemporiki “Greek-Italian relations and Green Evolution”

ITALY – and for 2023 – continues to be the top market for Greek exports. It is, after all, Greece’s most important economic partner over time.

Despite the consequences of the energy crisis, regional conflicts and inflationary pressures, bilateral economic relations between the two countries remain particularly close and have developed their own particular dynamics.Physically, the deteriorating conditions in the global economy would have been impossible to leave Greek exports unaffected, which have nevertheless shown remarkable resilience.

The VALUE of Greek exports to Italy decreased by only 1.5%, when, according to the latest ELSTAT data, in the period January – November 2023, the value of Greek exports overall decreased by 7.5% compared to the same period in 2022, achieving however the second best performance in their history.

12% of Greek exports are directed to ITALY, making it consistently the most important export destination in the first ten months of 2023. Italy ranks high, in the top four and in the list of imports (2022), confirming the particularly close economic relations between the two partners.

ITALIAN interest is focused on green energy in Greece, with the Italian groups, Edison, Enel Green Power and Italgas, among others, having been active in the Greek market for more than 10 years, while their plans include expanding their investments in green energy.

EDISON, together with DEPA, is working to promote the EastMed pipeline. Moreover, the Italian government has expressed its full support for the construction of East Med, while two major Italian groups, Renco SpA and Sicilsaldo-Nuova Ghizzoni, have also expressed their direct interest in participating in the construction of the pipeline.

COOPERATION between Greece and Italy is expected to intensify in the near future, putting the Eastern Mediterranean at the heart of the energy map.

WITH GREEK-Italian relations being significantly strengthened, especially in the energy sector, Greece is facing a unique opportunity to become an energy hub in the Eastern Mediterranean, a catalyst both for decoupling from Russian gas and for achieving the EU’s netzero target by 2050, making a decisive contribution to energy security and thus to the uninterrupted green growth as far as possible.

The HELLENIC-ITALIAN Chamber of Athens is a key partner of Italian companies operating in the Greek market and of Greek companies in Italy. Recently, the Hellenic-Italian Chamber of Athens signed a Protocol of Cooperation with the Association of Industrialists of Naples. For the implementation of the Protocol of Cooperation, it was agreed to create an Antenna office for the member companies and consultants of the Hellenic-Italian Chamber of Athens. This office is expected to become a reference point in Southern Italy and to act as an information hub for investment opportunities in the Greek market.

ALSO, the successful and internationally recognized program “Exporting more Greece to 85 Bilateral Italian Chambers in 65 countries” continues. Since 2011, when the Hellenic-Italian Chamber of Athens took over the implementation of this initiative, promoting “Made in Greece” products, the extroversion of Greek entrepreneurship has been further enhanced.