Developments in the global economy were discussed at the recent meeting of the Board of Directors of the Piraeus Chamber of Commerce and Industry, in the presence of the Secretary General of Industry, Eleftherios Cretan.

According to a statement, the Chamber of Commerce, Vassilis Korkidis, noted that in conditions of a World War War, where everything can be overthrown from time to time and tested many basic parameters of the economy, it is necessary to find the “appropriate mixture” for the economy and the economy. It is flexible, he continued, because the productive transformation of the economy imposes it as a first choice.

He also emphasized that to maintain the country’s steady development course, which is the result of everyone’s efforts, transformation is needed through a very careful planning of the financial staff, in order to accelerate tax reduction rates with the necessary incisions which must sometimes be bold.

It was alarming that 68 of the total 713 scheduled sea routes, almost 10%, have been canceled for five weeks, from early April to 6 May. Half of cancellations, he said, relate to intercontinental transactions between Asia and the US, which reflects the impact on imports. The rest are northern Atlantic-Western Europe, Asia-North Europe and Mediterranean routes. Another serious parameter, he continued, concerns the April 17th decision for an impending Imposition of port fees on Chinese construction ships since May.

“World trade war, which broke out and escalates, has no precedentMr. Korkidis stressed, while in the discussion that followed, the short -term impact data on the global, European and Greek economy were discussed and analyzed, from the exchange of duties that have erupted and the countermeasures they plan. As mentioned, in Greece, duties are estimated to bring a decrease of 0.5% of GDP, or about € 1.1 billion. Greek exports to the US reaching € 2.41 billion in 2024, accounting for 4.8% of the total value of exports, contributing about 1% of GDP, are expected to decline from 7-15%. Inflationary pressures will range in an additional 0.4-0.5%, overturning the ECB’s plans to reduce interest rates. Greek products that recorded the highest export value in the US were food and drinks, oil refining products and aluminum-steel. Oil refinery products are characterized by less elasticity in the short term, especially given the US intent to boost domestic industrial production and thus their exports are not expected to be significantly affected.

However, the consequences of the duties are expected to be felt by export food companies and, in particular, products such as olives, feta, peach composts, oil and wines. In addition, there are expected implications on exports of steel and aluminum products, following the meeting of the EU Commerce Ministers in Luxembourg and the decision to counter -duties with 25% duties on steel and aluminum imports from May 16th.

Greece, estimates the EBEP, with the support of the Greek homogeneity, must request and achieve the exception of its five flagship products from duties by avoiding competition with Turkey and Tunisia, as was the case with the imposition of duties during the first Trump term.

However, there is also concern about the impact on tourism. Already, on the first day of tariff implementation, the value of the dollar against the euro fell to 1.1, reaching the lowest semester exchange rate. Strengthening the euro will make the exports of eurozone countries, including tourism, more expensive and non -competitive for most countries, which can halt tourist flows to Greece as well. The WTO estimates that the imposition of duties will cause a 1% shrinkage to world trade, totaling $ 33 billion in 2024, while the EU GDP drop in 18.8 trillion. It is expected to range from 0.4% to 0.8%.

The Board of Directors said that Greece, in terms of the EU’s general reaction, is in favor of dialogue with the US and negotiating without countermeasures, along with Italy, Romania and Hungary, unlike France, Germany, Spain and Belgium, while it was emphasized that the European leaders should A single attitude on how to deal with and negotiate the situation for the benefit of all.

Soon in Parliament the draft law on industrial zones in Attica

Concerning the issues handled by the Secretary General of Industry, Eleftherios Cretan, he emphasized in the debate under the Board of Directors that “reforms in business transformation parks are imperative”.

Given the fact that the Draft Law on Industrial Zones in Attica will soon be submitted to Parliament, the Secretary General of Industry referred to the proposals that have been formulated, after exhaustive, as he described it, discussing the basic parameters that should be governed by the legislation, which should be given to the law, Reduction of energy costs that are currently still pushing for production, processing and supply chain. In this context, the data of the Economic Geography study of Western Attica were presented, and in particular the mapping of organized and informal industrial gatherings, the final edition of which will be officially presented in the context of a special workshop, in the presence of the Minister of Development, Takis Theodorikou, after the Secretary of State for improvements.

It was noted that our country’s investment bet includes the West Attica region with medium and long -term prospects.

It is noted that the presentation of the research and special study data concerning, in particular, the industrial and business rallies in West Attica was in the presence of the competent mayors, the Municipality of Megara P. Margetis, Aspropyrgos, I. Elias, and the Secretary General of the Municipality of Eleusis.

EBEP President Vassilis Korkidis stressed that it is necessary to strengthen the productive base, support industry and processing by creating an attractive environment for innovation, investment and entrepreneurship.

The government, he said, has to create that climate that will encourage more investment from the interior and take measures to increase investment flows from abroad. Investments are multiplier, give new mobility to economic sectors, creating new jobs and moving the market. “Chambers have become aware of what circular economy means, what productivity means and how it translates into the country’s economy,” the president stressed.