You are here: HomeGreece 2021 › Blog

Greece looks beyond the EU thanks for partnership with Japan

May 08, 2021

The EU-Japan Economic Partnership Agreement created the world’s largest trade zone made up of more than half a billion people. Since the EPA came into force in 2019, businesses and citizens of Greece and Japan immediately felt the agreement’s positive impact, particularly in the agri-food sector.

As a result of the EPA, tariffs for wine and alcoholic beverages were slashed from 15% to zero. In the coming years, 85% of EU agri-food exports to Japan will be covered by further trade liberalization.

The world’s 3rd largest economy, Japan has a solid reputation as a reliable partner not only of large companies but also of SMEs across the 27-member trading bloc. Notwithstanding the obvious commercial benefits, the EPA is also ambitious in its goal of building a more environmentally sustainable future and promoting the equitable distribution of wealth.

What does this mean for Greek businesses and the local community?

Prior to the pandemic, total trade volume between Japan and Greece has been in a decreasing trend since the economic crisis in Greece, the Japanese Ministry of Foreign Affairs said. But, in 2020, Greek exports to Japan doubled, while Japan jumped from ten places to No. 22 in terms of trade volume to Greece, according to the December 2020 figures from Enterprise Greece, which organizes regular online seminars on Doing Business in Japan to help local businesses expand their overseas markets.

Greek agri-food products, pharmaceuticals and consumer goods, such as cosmetics, have emerged the biggest winners. This comes as no surprise given the trade synergy that exists between the two countries. On one hand, Greek products are known for their superior quality and state-of-the-art packaging. While on the other, the average Japanese consumer is widely known to have high expectations regarding goods and services. 

What is also interesting is the growing trend among Japanese towards healthy and nutritious food, a blessing for Greek food producers that represent the widely-praised “Mediterranean diet.”

Beyond consumer goods, innovation and digital transformation have also emerged as major growth areas when it comes to cross-border opportunities. Greek entrepreneurs from the US and other countries have returned him to share their expertise and talent with their enterprising compatriots.

This is a welcome development as Greece’s construction, IT and healthcare sectors have embraced the digital economy and can easily find partners in Japan, which has long been known as the leader in high tech innovation and digital transformation.

Although the world has yet to totally contain the COVID-19 pandemic, Greek enterprises have continued venturing beyond their European borders and have discovered that Greece’s relationship with Japan only just beginning.

Article Tags: Greece, Japan, Economy

Greece 2021 was prepared for and originally printed in The Japan Times Newspaper.

PDF of the printed report

latest special Reports:

  • Global Media is your partner in reaching a powerful international audience through high-level economic reporting.

    Our ambition is to highlight under-reported developments and opportunities around the world, and allow leaders in these regions and sectors to take their message to the highest global level. We partner with top media to communicate with the world’s most powerful audiences. We specialize in communication and branding initiatives that help our clients effectively get their messages to their existing and potential partners. We achieve results for our clients by introducing them and their initiatives to an audience of elite international business and government leaders.

    Global Media Inc. is an independent media agency with offices in Hong Kong and Canada. GMI has more than a decade of experience in the writing, researching, and production of promotional country reports, with media partners from East Asia to North America. We have teams worldwide that develop country and thematic reports on the latest economic trends and developments.

    We are a media partner of Foreign Affairs,the United States’ most influential publication, published by the New York-based Council on Foreign Relations.

    Nearly a century old, there isn’t a more influential or higher-reaching publication in the United States than Foreign Affairs. The journal is ranked #1 in influence by U.S. opinion leaders in a recent nationwide study conducted by Erdos and Morgan, the premier business-to-business research firm. Their findings place Foreign Affairs ahead of all media, both print and broadcast, including The New York Times, The Wall Street Journal, The Economist, and The Washington Post.


    “We were extremely impressed with how efficient, well-coordinated, responsive and reliable the Global Media Inc. team was. We owe them a lot for their professionalism. We were very pleased with the outcome, and the article was very well-written. We hope to have an opportunity to work with Global Media Inc. again in the near future.� – Japan Airport Terminal Co. Ltd.
    “The Global Media team’s professionalism was excellent. Their team was great and always gave us the right suggestions and information. The product was excellent, and we were very happy to have such a great opportunity working with their excellent team.â€� – National Graduate Institute of Policy Studies (GRIPS)
    “We were honored to be chosen as one of the good universities in Japan. This article conveyed Seigakuin University’s educational ideals and the message from President Akudo. The advertisement was conspicuous and gave a good impression that Seigakuin nurtured students to contribute to world peace. We really appreciated what Global Media Inc. had did for us.â€� – Seigakuin University

    Whom we have featured:

    • Australian Prime Minister Julia Gillard
    • Australian Foreign Affairs Minister (and former Prime Minister) Kevin Rudd
    • Japanese Prime Minister Shinzo Abe
    • Qatari Minister of International Trade and Industry Dato’ Sri Mustapa bin Mohamed
    • Japanese Minister of Education, Culture, Sports, Science and Technology Yoshiaki Takaki
    • Taiwanese Foreign Minister Yang Chin-Tien
    • Taiwanese Finance Minister Lee Sush-Der
    • Taiwanese Economic Affairs Minister Shih Yen-Shiang
    • Taiwanese National Science Council Minister Lee Lou-Chuang,
    • Taiwanese Deputy Minister of Transport and Communications Yeh Kuang-Shih
    • Taiwanese Political Deputy Minister of Education Dr. Lin Tsong-Ming
    • Indonesian Ambassador to the United States Dr. Dino Patti Djalal
    • Indonesian Investment Coordinating Board Chairman Gita Wirjawan
    • Philippine President Benigno S. Aquino III
    • Philippine Senate President Juan Ponce Enrile

Join our newsletter

Sign up for our weekly newsletter to get the latest news and updates directly to your inbox.