SEV: Greece benefits from EU's Free Trade Agreements

Greece has benefited more compared with other EU member-states from a series of Free Trade Agreements (FTAs) signed between the European Union and third countries, while completion of agreements currently underway could boost the country’s GDP by two points, the Federation of Hellenic Enterprises (SEV) said in a report released on Tuesday.

The report said that the current climate prevailing in global trade, which includes questioning of open and globalized productive chains, a new trade policy by the US, China’s state intervention, the possibility of a no-deal Brexit and an emerging investment competition from Africa, create asymmetric competitive pressures.

"The EU is the biggest trade partner in the world in products and services and has a single representation in the World Trade Orgranization. International trade agreements, negotiated, managed and signed by the EU could fortify the Greek industry against unfair trade practices and ensure friendly trade rules, lifting of administrative and duty hurdles, branding, etc," SEV said in the report.

SEV said that a total of 30 FTAs signed by the EU in the period 2000-2017 helped Greek exports, as 24 pct of Greek exports is directed to these countries, with 15 out of the 30 third countries emerging as real "gold" for Greek exports. Also, Greece’s trade balance with 17 out of the 30 these countries is positive (163.1 million euros),