Economic Relations
Α. ΑUSTRALIAN ECONOMY – AUSTRALIA – E.U. TRADE AND INVESTMENTS
Australia is a G20 member country. She is ranked 13th globally as a major economy (GDP of 1,57 trillion A$, per capita above A$ 70.000).
Major trading partners of Australia in terms of exports are China, Japan, Korea, India and U.S.A.. Major trading partners of Australia in terms of imports are China, the U.S., Japan, Singapore and Germany.
In 2011-12 the trade volume between Australia and the E.U. was A$ 62,19 billion; an increase of 10,3%. Exports to Australia totalled A$ 19,85 billion, while Australian imports from the E.U. totalled A$ 42,34 billion.
Australian exports to the E.U. represent a percentage of 7,5% of total Australian exports. Australian imports from the E.U. represent a percentage of 17,7% of total imports of the country.
In terms of services, the total volume reached A$ 21,6 billion. Australian exports were of a value of A$ 8,3 billion; Australian imports reached A$ 13 billion. The E.U. is the major investment partner of Australia with a total value of A$ 680 billion, representing a percentage of 35% of FDI in Australia. The U.S. follows with A$ 550 billion aqnd Japan is third with A$ 120 billion and Japan is third with A$ 120 billion.
Β. GREEK-AUSTRALIAN TRADE RELATIONS
Greek exports to Australia reached 100 million Euros in 2012. Imports were of a value of 25 million Euros. There is a strong potential for increasing exports, especially in the sector of agricultural products and food industry as well as in high tech products. Greek investments in Australia approx. 50 million Euros.
B1. Bilateral Trade
Bilateral Trade Flows(excluding the petrol exports)
2008 / 2009 / 2010 / 2011 / 2012
Greek Εxports (X) / 75.56 / 68.96 / 91.11 / 101.66 / 120.76
Greek Imports (M) / 38.94 / 40.49 / 22.75 / 25.73 / 11.96
Trade Volume (X+M) / 114.50 / 109.45 / 116.84 / 127.39 / 132.72
Trade Balance (X-M) / +36.62 / +28.47 / +68.36 / +75.93 / +108.80
Source: ΕLSTAT-Athens Amounts: mill. euros
Major Imported Products from Australia (2011)
CN4 / Description / Value
'7210' / Flat-rolled products of iron / 13,689,335 €
'7404' / Copper trash and scrap / 2,512,166 €
'3004' / Medicaments / 2,026,222 €
'4804' / Paperboard kraft / 709,377 €
'3506' / Glues and other prepared adhesives / 649,356 €
'0713' / Legumes dry skinned or withour skin / 337,066 €
'8708' / Parts and accessories for tractors, urban buses / 325,301 €
'8480' / Foundry frame-boxes. Support plates for molds. / 299,387 €
'3304' / Beauty products (make-up) / 280,414 €
Total GR Imports from AUS: / 25,734,815 €
Major Exported Products to Australia (2012)
CN4 / Description / Value
'2005' / Vegetables prepared or preserved, / 18,722,468 €
'7606' / Aluminium strucrures thickness > 0,2mm / 11,614,472 €
'0406' / Cheese and curd / 9,774,100 €
'4010' / Rubber articles / 9,398,859 €
'2106' / Edible products and preparations / 7,948,186 €
'3004' / Medicaments / 6,163,581 €
'0806' / Grapes dry or fresh / 4,485,758 €
'1509' / Olive oil and sub-products / 4,145,970 €
Total GR Exports to AUS: / 109,815,311 €
B2. Major Greek companies cooperating with Australia
Food industry: Meli Attikis, Ktima Lazaridi, Gaea Oinopiitiki, Minerva, Creta Farm, Mevgal, Fage, Colymbari Agricultural Cooperative
Pharmaceuticals: Lavipharm
Health cosmetics: Apivita, Korres
Minerals: S and B Industrial Minerals
Aluminium Products: Elval
Informatics: Intralot
Construction Materials: Ionian Marble
B3. Major investments
Intralot, a leading expert in the field, had invested 50 million Euros in the Australian lottery sector. An Australian mineral company of Perth (Glory Resources Inc.) has expressed interest in the development of a goldmine in the sapes region of Thrace.
Greek Investments in AustraliaGREEK GROUP / INVESTOR / FOREIGN COMPANY / SECTOR / ACTIVITY
INTRALOT S.A. / INTRALOT SA / INTRALOT AUSTRALIA Pty. Ltd. / ENHANCED GAMING SERVICES PTY LTD / I.T. & TELECOMMS PRODUCTS & SERVICES (Gaming Information Systems, equipment and services)
MARFIN FINANCIAL GROUP S.A. HOLDINGS / MARFIN POPULAR BANK / LAIKI BANK AUSTRALIA / FINANCIAL SERVICES (Banking)
LIDIS FAMILY / LIDIS FAMILY / LIDIS MANAGEMENT COMPANY PTY LIMITED / FINANCIAL SERVICES (Investment Appraisal)
SOUVATZIS, KALAITZOPOULOS, MAVROTHALASSITIS / SOUVATZIS, KALAITZOPOULOS, MAVROTHALASSITIS / GLOBE WILLIAMS (AUST) PTY LTD / LEGAL SERVICES (Business)
I.K. ROKAS & PARTNERS LAW FIRM / I.K. ROKAS & PARTNERS LAW FIRM / IKRP ROKAS & PARTNERS - EUGENIA MITRAKAS & Co. / LEGAL SERVICES
Australian Invstments in Greece
ΑUSTRALIAN GROUP / SECTOR / ACTIVITY
ANZ GRINDLAYS BANK / BANKING
NUTRI-METICS INTERNATIONAL, BALMAIN NSW, TEL: 02 9818 9011 / WHOLESALE/RETAIL COSMETICS, FOOD SUPPLIES
VILLAGE ROADSHOW, MELBOURNE VIC, TEL: 03 9667 6666 / ENTERTAINMENT
CASH CONVERTERS, MELBOURNE VIC, TEL: 03 9820 9166 / FINANCE
JURLIQUE INTNL, BARKER SA, TEL: 08 9391 0577 / COSMETICS
FARNSWAY FAMINCO, SAMFORD QLD, TEL: 07 3289 2066 / MINING
AUSTAL SHIPS, HENDERSON WA, TEL: 08 9410 1111 / SHIPBUILDING
GLORY RESOURCES PTY LTD, West Leederville, WA, TEL: 08 9380 9555 / GOLD MINING IN NORTH GREECE
Source: INVEST IN GREECE / NEWSFEED
B4. Tourism
In 2012 the number of visitors form Australia to Greece reached 100.000. There is a strong potential for further growth in the sector.
ΤΟURISM FLOWS FROM OCEANIA TO GREECEYEARS / AUSTRALIA / OCEANIA REST / TOTAL FROM ABROAD
2007 / 125.636 / 17.825 / 16.165.265
2008 / 136.086 / 23.836 / 15.938.806
2009 / 133.869 / 27.643 / 14.914.534
2010 / 108.088 / 18.085 / 15.007.490
2011 / 115.902 / 19.077 / 16.427.247
Source: ΕΛΣΤΑΤ
B5. Maritime cooperation
Greek shippers are the major maritime transporters of Australian mineral exports overseas (approx. 20 per cent of total exports).
B6. Trade Events / Business Delegations
In September 2013, OPE, the Greek Exports Promotion Organization plans the participation of major Greek companies in “Fine Food Australia”, to take place in Sydney.
In November 2012, a business delegation from Thessaloniki Trade Fair, led by Minister for Macedonia and Thrace, Mr. Th. Karaoglou, had B to B meetings in Victoria and New South Wales, facilitated by HACCI Chamber, Victoria and the Greek Commercial Office in Sydney respectively.
B7. Entreprenarial dimension of the Greek – Australian Community
Greek – Australian Community is active in all different aspects of the Australian economy.
Contact information for existing Greek Australian Chambers of Commerce:
CANBERRA PROPERTY OWNERS’ ASSOCIATION
GPO Box 76, CANBERRA ACT 2601
Mr James Koundouris
Tel (02) 6257 1777, Fax (02) 6257 2996
Mr Ntinos Nikias, tel (02)62824039, fax (02)62822470
HACCI (WEST AUSTRALIA)
PO Box 350, Francis Str., NORTHBRIDGE WA 6865 www.hacci.org.au
Mr Barry Panos (2005)
Ms Fay Katris (08) 9328 5141, Fax (08)92279652
HACCI (SOUTH AUSTRALIA)
GPO Box 6204, Halifax Str., ADELAIDE S.A. 5000
Tel (08) 8297 7533, Fax (08)82970549,
Email:
HACCI (VICTORIA)
Office Manager: Marianna Sarris
Former Royal Mint Building, 280 William Street
Melbourne, Victoria 3000
Tel: +61 3 9602 2977, Fax: +61 3 9600 3821
Website: www.hacci.com.au
E-mail:
HACCI (QUEENSLAND)
40, Annerley Rd., Woolloongabba QLD 4102
George Psaltis tel (07)3391 1065 fax:(07)3391 3558
Michael Anastas tel (07)3292 7288, fax (07)3003 1366
HACCI (NEW SOUTH WALES)
Level 2, Hellenic House, 251-253 Elizabeth St., Sydney NSW 2000
President: Mr G.Mavrakis, “Mavrakis & Associates” Lawyers,
Level 16, 115Pitt Street, Sydney NSW 2000
Tel: +61 -2- 9223 8881
Fax: +61 -2- 9223 5622
Email:
The website http://agora.mfa.gr/au56 of the Greek commercial office in Sydney is available for further research.