Federal Minister Sigmar Gabriel (right) with the President of Greece Prokopis Pavlopoulos (left); source: BMWi/Maurice Weiss Enlarge

Federal Minister Sigmar Gabriel (right) with the President of Greece Prokopis Pavlopoulos (left)

© BMWi/Maurice Weiss

Sigmar Gabriel,Federal Minister for Economic Affairs and Energy, is visiting Greece today (until Friday, 1 July) together with a business delegation.

The visit aims to explore further opportunities for economic cooperation between the two countries. Renewable energy will be a key focus. The good cooperation in this field is to be intensified and expanded in the context of specific projects. The intention is to stimulate investment in Greece's future and to send out a signal for the renewables sector in Europe. Export promotion in Greece will be another priority.

Talks with high-level government representatives including President Prokopis Pavlopoulos and Prime Minister Alexis Tsipras, a conference on renewable energies and meetings with opposition politicians and with young people are planned to take place.

Minister Gabriel will be accompanied by a 40-person delegation made up of representatives from companies, associations and business promotion banks and members of the Bundestag. The companies represented cover various sectors including the renewable energies industry, the construction sector, mechanical engineering, the tourism sector and the ICT industry.

In 2015, Germany was Greece's most important trading partner, with the bilateral trade volume totalling €6.5 billion, which corresponds to a share of about 9.5%, followed by Italy and Russia. In 2015, Germany exported goods and services worth €4.7 billion to Greece and imported goods and services worth €1.8 billion. The most important goods exported by Germany included chemical products (28.8%), foodstuffs (13.9%) and machinery (8.5%). As regards Greek exports, Germany ranked second in 2015 with a share of 7.4% (Italy ranked first with a share of 11.4% and Turkey ranked third with a share of 6.8%). The most important goods imported by Germany from Greece were foodstuffs (27.4%) and chemical products (18.2%).