Development and Investments Minister Adonis Georgiadis has signed the updated Cooperation Framework 2020-2022 with the National Committee on Development and Reforms of the People's Republic of China. The plan, which was presented by the Athens-Macedonian News Agency (ANA) on Monday, aims to enhance cooperation in key areas such as energy, transport, information and communication technologies, manufacturing, research and development and financial services.

The two sides will introduce and promote joint venture projects and assist both public and private companies in identifying investment and cooperation projects, while financial institutions in both countries will be encouraged to provide support to selected projects to promote their rapid implementation.

During his trip to China, the minister also met with representatives of major Chinese companies who expressed their investment interest in Greece.

Under the agreement, the two sides will regularly re-examine new areas of cooperation and projects of mutual interest. It provides for the exchange of information and policies in key areas of cooperation, the holding of seminars and exhibitions, support to businesses on both sides seeking to cooperate, encouraging financial institutions to finance cooperation plans and an improved investment environment, support for the rapid issue of licences, removal of investment barriers (including administrative and legislative obstacles) and creating favourable conditions for joint ventures.

The coordination mechanism for the agreement will include a mixed Greek-Chinese committee that will be responsible for the framework, co-chaired by the Vice Chairman of China's National Development and Reform Commission Ning Jizhe and Georgiadis for the Greek side. Other members will be senior civil servants on the level of ministry general secretaries.

This committee will set up a secretariat that will be responsible for communication and coordination of the plan's implementation and for recording and gathering information on any investment interest that is expressed to facilitate contact between the two sides.

The committee will meet annually, in Athens and Beijing alternately, to examine the progress made in key areas of the plan and draw up plans for the next stages.