Shared commitment

In 2018, Greece and China cemented their collaboration by signing a memorandum of understanding, demonstrating their shared commitment within the framework of the BRI.

Marking the 10th anniversary of the BRI proposal as well as celebrating Sino-Greek relations, a forum was recently held at the Piraeus Port.

Speaking on the occasion, Wu Hailong, president of the China Public Diplomacy Association, highlighted the global opportunities and benefits provided by the BRI, citing the successful Piraeus Port investment as a notable joint achievement.

Ioannis Kotoulas, adjunct lecturer of geopolitics at the University of Athens, commended the BRI's goal of harmonizing Eurasian interests. Referring to the Sino-Greek partnership, he emphasized the shared commitment to deploying soft power and advocated further cooperative exploration across various sectors.

The collaborative engagement between China and Greece within the BRI framework, exemplified by the notable Piraeus Port project, has yielded substantial outcomes.

Following the acquisition by China's COSCO Shipping of a 67 percent stake in Piraeus Port, the Greek maritime hub has become the leading Mediterranean port and ranks as Europe's fourth-largest container port and the third cruise home port as well as the largest ferry port in terms of handling capacity.

Zhang Zhiming, general manager of the board of directors' office, Piraeus Port Authority, said the COSCO Shipping and Piraeus Port partnership is a prime example of Sino-Greek cooperation that leverages mutual benefits and synergies to create value.

"Without the value of the Piraeus Port, the current achievement would not be possible. Equally important is COSCO's expertise and the resulting supply chain synergy, which greatly contributed to the remarkable growth of the port," he said.

In 2009, COSCO made an initial investment in Pier 2 and Pier 3 within the Piraeus Port container terminal. Back then, the container terminal's throughput stood at 870,000 TEU (twenty-foot equivalent unit). Through subsequent years of development, Zhang said the terminal's throughput has surged to exceed 5 million TEU, with a peak of 5.65 million TEU.