Embassy of India, Athens, Greece : Doing Business in Greece

Doing Business in Greece

Information on Greece

Official Name		Hellenic Republic
Capital	:	Athens
Other Cities	:	Thessaloniki, Patras, Irakleon, Volos, Larissa
National Day	:	25 March (Anniversary of declaration of independence in 1821)
Geography
Total Area	:	131,957 sq. kms., Land Area-130,800 sq. kms.
Land Boundaries	:	Albania, Bulgaria, FYROM and Turkey
Coastline	:	15,021 kms
Climate	:	Warm and dry in summer and cool with moderate rains in winter. (Max. Temp. 40 ° C & Min. Temp. 0° C)
Currency	:	Euro
Time: Summer Winter	:	IST (-) 2 ½ hours (GMT +3 hours) IST (-) 3 ½ hours (GMT +2 hours) (Summer time is from last Sunday in March till last Sunday in October)
Population
Population	:	11.17 million (2007 estimate). Another 10 million Greeks are estimated to live abroad.
Religion	:	Greek Orthodox Christians-97.6%, Muslims 1.3% Roman Catholic Christians 0.4%, Others 0.7%
Language	:	Greek
Literacy	:	93% (Male-98% & Female-89%)
Political
Head of State [www.presidency.gr]	:	President, elected by Parliament for a 5-year term. Mr. Karolos Papoulias (since 12.3.2005)
Hellenic Parliament [www.parliament.gr]	:	300 members. Elected directly by the people for a 4- year term. Last election held in September 2007
National Government	:	Council of Ministers headed by Prime Minister, appointed by President, on basis of majority support.
Head of Government [www.primeminister.gr]	:	Prime Minister: Mr. George Papandreou (since 06.10.2009. Pan Hellenic Socialist Movement (PASOK))
Ministry of Foreign Affairs[www.mfa.gr]	:	Foreign Minister : Mr. George Papandreou (since 07.10.2009)
Political Parties	:	Pan Hellenic Socialist Movement (PASOK) -160MPs New Democracy (ND) – 91 MPs Communist (KKE) - 21 MPs Orthodox Popular Rally (LAOS) Party - 15 MPs Coalition of Left and Progressive Forces (SYNASPISMOS) - 13 MPs
Provinces/Administrative Division	:	51 prefectures - Achaia, Aitolia kai Akarmania, Argolis, Arkadia, Arta, Attiki, Chalkidiki, Chanion, Chios, Dodekanisos, Drama, Evros, Everytania, Avvoia, Florina, Fokidos, Fthiotis, Grevena, Ileia, Imathia, Ioannina, Iraklion, Karditsa, Kastoria, Kavala, Kefallinia, Kerkyra, Kilkis, Korinthia, Kozani, Kyklades, Lakonia, Larisa, Lasithi, Lefkas, Lesvos, Magnisia, Messinia, Pella, Pieria, Preveza, Rethynnis, Rodopi, Samos, Serrai, Thesprotia, Thessaloniki, Trikala, Voiotia, Xanthi, Zakynthos and 1 autonomous region -Agion Oros (Mt. Athos).
Membership of International Organizations	:	-UN and its Specialized Agencies -World Bank/IMF -North Atlantic Treaty Organization(NATO) -World Trade Organization (WTO) -Black Sea Economic Cooperation (BSEC) -Organization for Economic Cooperation & Development (OECD) -Organization for Security and Cooperation in Europe (OSCE) -Council of Europe
Imports Major Import sources Exports Major export destinations Major Industries FDI Inflow FDI Stock in Greece FDI Outflow Greek FDI Stock Abroad	: : : : : : : : :	US $ 86.1 billion (2008) Germany, Italy, France, Russia, China and Netherlands US$ 25.6 billion (2008) Germany, Italy, Cyprus, France, UK and USA Tourism, Shipping, Food and Tobacco processing, Textiles, Chemicals, Metal products, Mining and Petroleum. US $ 1.9 billion (2007) US $ 43 billion (2007) US $ 5.3 billion (2007) US $ 24 billion (2007)

Economy

Agriculture, tourism and shipping are the mainstay of the Greek economy. Greek investment in south-eastern Europe, especially in banking, is also developing as a valuable asset. Greece has enjoyed strong growth over the past few years, averaging over 4%, largely because of investment inflow and infrastructure upgrades for the 2004 Olympic Games. While Greece's GDP has been well above the eurozone average, public debt, inflation and unemployment have also been above eurozone average. Greece is the 3rd largest producer of olive oil in the world, which accounts for about 12% of its food exports, followed by fish products (about 8%).

Exporting to Greece

The Community Customs Code, the Common Customs Tariff and the Greek Customs Code apply to all imports into Greece. Greece has customs controlled free zones and free warehouses, in which duty may be reduced or may not apply. There is also provision for temporary import. Quantitative restrictions, direct quota and tariff ceilings according to EU regulations apply in certain cases. Such items require an import licence issued by the Ministry of Economy and Finance. Certain items like firearms and explosives require prior import clearance.

Anti-dumping and countervailing duties can also be imposed in accordance with EU regulations.

Agents and customs brokers are commonly used. Payment should normally be done through banks and exports should be only against letters of credit.

Shipping

Shipping is traditionally one of the most important sources of income and foreign exchange of the country. According to the Greek Shipping Corporation Committee, in February 2008, Greeks around the world owned 4173 ships with a total of 262 million dwt, representing 16.4% of the world fleet dead weight. Of these, 1197 ships were under the Greek flag with a total of 95.9 million dwt. Greece's foreign exchange earnings from shipping were estimated to be about Euro 17 billion in 2007.

Tourism

Greece ranks among the 10 top tourist destinations in the world. According to the Association of Greek Tourist Enterprises, tourism accounts for about 18% of the GDP and 19% of employment in Greece. About 17 million tourists visit Greece every year.

Useful Links :
    www.culture.gr
    www.mintour.gr

Major Newspapers (all in Greek except Athens News)

1.         TA NEA
            No. 3 Chr. Lada Street, 10237, Athens
            Tel : 00-30-210 333355 Fax : 210 3228797
            www.tanea.gr

2.         ELEFTHEROTYPIA
            No. 10-16 Minoos Street, 117-43, Athens
            Tel : 00-30-210 9296001, Fax : 210 9028311-3
            www.enet.gr

3.         ETHNOS
            As. Nektariou Benaki Street, 15238, Halandri
            Tel : 00-30-210 6061000 Fax : 210 6391337
            www.ethnos.gr

4.         APOGERMATINI
            No. 12 Feidiou Street,
            10678, Athens
            Tel : 210 3818811-5 Fax : 210 3609876
            www.apogevmatini.gr

5.         KATHIMERINI – Also brings out an English edition except Sundays
            No. 2 Dim. Folireos Street, 18547, Piraeus
            Tel : 00-30-210 4808000 Fax : 210 4808202
            www.kathimerini.gr

6.         ADESMEFTOS TYPOS
            No. 166 Ionias Street, 11144 Athens
            Tel : 00-30-210 2112620 Fax : 210 2017385
            www.adesmeytos.gr

7.       Athens News (English Weekly)
          3 Christou Lada, 102 37 Athens.
          Tel: 00-30-210 333370 Fax: 210 3333701
          www.athensnews.gr

TV Channels

1.        MEGA channel
           No. 4 Roussou & Messogeon Ave.
           115-26Athens
           Tel : 00-30-210 6903000 Fax : 210 6983600
           Website : www.megatv.com
           E-mail : publ_rel@megatv.com

2.        ANTENNA TV
           No. 10-12 Kiffisias ave, Agora Center, 151-25, Maroussi
           Tel : 00-30-210 6886100 Fax : 210 6892116
           www.antenna.gr

3.        ALPHA
           No. 201 Pireos Street, 118-53 Athens
           Tel : 00-30-210 4897777-8 Fax : 210 48974468
           Website : www.alphatv.gr
           E-mail : master@alphatv.gr

4.         ALTER CHANNEL
             No. 40 Ag. Paraskevis Street 121-32, Peristeri
             Tel : 00-30-210 5707000 Fax : 210 5707070
             www.alter.gr

5.         ET-1
            No. 136, Messogeion Aven, 115-27 Athens
            Tel : 0030-210 7758824 Fax : 210 7797776
            www.tvradio.ert.gr

6.         NET
            NO. 432 Messogeion ave., 153-42 Athens
            Tel : 00-30-210 6066000 Fax : 210 6080823
            www.tvradio.ert.gr

7.         ET-3
            Stratou Ave & Kaftatzoglou Street, 54621 Thessaloniki
            Tel : 00-30-2310299400 Fax : 2310 299750-2
            www.ert3.gr

Major think tanks on foreign policy issues:

Hellenic Foundation for European and Foreign Policy (ELIAMEP), Athens Greece (www.eliamep.gr) Institute of International Relations, Athens, Greece (www.idis.gr)