Ioannis Tsamichas at Naftemporiki for the 89th Thessaloniki International Fair

Strong Axis of Exports and Investments in the Mediterranean

The economic relationship between Greece and Italy has developed into a strategic partnership in recent years. The two countries are establishing a development axis that goes beyond a typical bilateral relationship, thanks to strong Italian investments in the energy and transport sectors and a steady increase in Greek exports to the Italian market.

Steadily Increasing Exports

Greek exports to Italy showed a significant increase after 2020, recovering strongly from the pandemic recession. Exports rose from 2.8 billion euros in 2020 to 3.6 billion in 2021, exceeded 4.1 billion in 2022, and reached 4.5 billion euros in 2023. Italy consistently remains among the top three destinations for Greek products, particularly in sectors such as petroleum products, metals, agricultural products, and energy.

The Institutional Link of Cooperation
The Hellenic-Italian Chamber of Commerce of Athens plays a particularly important role. Since 1924, it has been a key pillar of Greek extroversion, serving as an institutional bridge between Greek and Italian businesses. The chamber provides a networking platform, information on investment opportunities, and support for export activities. Through business missions, conferences, and consulting services, the Chamber actively contributes to strengthening economic ties and promoting collaborations in sectors like energy, financial investments, technology, and food.

Italian Investments with Long-Term Scope
The Italian presence in the Greek economy is significant. Some examples of Italian companies and their investments are:

Generali: Has held a dominant position in the insurance market since 1915
EDAON: a subsidiary of Italgas, has planned investments of 800 million euros by 2028
MAPEI Hellas: A leading company in the production of building materials
RENCO Hellas: A construction company specializing in data centers and energy.
ICAP CRIF: A leading group in the credit risk solutions market
MINOAN LINES
BARILLA
KERAKOLL
MENARINI Pharmaceuticals

A Common Front in Brussels
The Greek and Italian governments often align their positions on crucial European economic policy issues, such as easing the Stability Pact, strengthening the Recovery Fund, and supporting Mediterranean countries with the migration issue.

Prospects
The increase in trade flows and the expansion of investment collaborations confirm that Greece and Italy now function as economic allies with a shared strategic interest in the Mediterranean. With exports strengthening and energy cooperation in progress, the Greek-Italian axis is expected to play a significant role in the new European economic reality.