Establishing business contacts between companies from different economic sectors, exchanging mutual information, negotiating future challenges, jointly entering third markets, and concluding mutual deals are just some of the goals of the Greek-Macedonian business forum held on 13 June 2024, in Thessaloniki. The event was organized by the Economic Chamber of North Macedonia in cooperation with the Thessaloniki Chamber of Commerce and Industry, as part of the Private Sector Regional Integration Support Activity (PSRISA) which the Chamber is implementing in partnership with USAID. Additionally, this activity was part of the annual work program of the Association of Balkan Chambers (ABC), over which the Economic Chamber of North Macedonia is presiding this year.

During the bilateral meetings, around twenty representatives from Macedonian companies made contact with Greek businesspeople from various fields in the trade, industrial, and service sectors, including energy, construction, and IT technologies.

The business forum was opened by Emmanouil Vlachogiannis, 1^st Vice President of the Thessaloniki Chamber of Commerce and Industry, who expressed great satisfaction with organizing such a meeting between businesspeople from both sides after more than 20 years. He noted that in an era of digitalization and artificial intelligence, we still face challenges in infrastructure, which is a significant segment for the connectivity between the two countries. The importance of the Port of Thessaloniki and the alignment between the two customs administration bodies were also highlighted as crucial factors for smooth trade and the promotion of investments from both sides.

In his address at the opening of the forum, the Executive Director of the Economic Chamber of North Macedonia, Antoni Peshev, MBA, emphasized that this event represents a significant impetus in enhancing business cooperation between North Macedonia and Greece. He stated that this is an opportunity to intensify and strengthen the existing economic relations and connect business entities from both countries as a condition for the further development of cooperation.

"Unfortunately, for a while, we forgot how close we can be to each other. The peoples have very good mutual communication, but economic relations have not functioned as they should for several years," added Peshev, reminding that Greece is one of the five largest trading partners of our country.

"Bilateral trade with Greece in 2022 amounted to 1.36 billion euros, more than 1 billion euros of which were related to Greek exports, while 360 million euros represented Macedonian exports to Greece, which, although growing compared to previous years, still has potential for further growth," said Peshev. He also highlighted the interconnector in Alexandroupolis and the improvement of infrastructure along Corridor 10 as extremely important elements that can attract new "players" to the energy market in the South-East Europe region.

Spyros Stamou, Chief Financial Officer of the Port of Thessaloniki, emphasized that the company's vision is "to be more than just a port and to function as a provider and 'facilitator' of solutions in transport and logistics issues, not only for Greece but also for the rest of the Balkans and the broader region of Eastern and Central Europe.     

"We want to provide a constantly evolving service package and a reliable intermodal network, because we believe that this way, the growth that already exists will continue, with even more prospects. Additionally, this will upgrade the supply chain of the broader region, creating value for all stakeholders," said Stamou. He added that their strategy is to develop the connectivity of the Port of Thessaloniki and further expand the intermodal railway into Eastern and Central Europe.

Stamou also reminded that the port, which serves a market of tens of millions of people, manages dry ports (inland terminals of the port) in Sofia, Niš, and Skopje.

Regarding the potential for improving bilateral cooperation, Peshev emphasized that Greece drives the development of the Balkans.

"If it doesn't pull us forward, all other Balkan countries would have problems. Its geographical position is irreplaceable for transport, for example, and that is the foundation of every business. I see only one solution and I am fighting for it. N Macedonia should join the EU, thereby making the port accessible on all grounds. If that is prolonged indefinitely, we should take an example from the agreement on the use of the free zone at the port, which was in force for 50 years and yielded fantastic results," Peshev stressed.

As part of the business forum, a conference was held on the prospects for strengthening economic cooperation between Greece and North Macedonia. High-ranking representatives from the Greek Independent Authority for Public Revenue and the Port of Thessaloniki also took part. The conference highlighted the need for progress in establishing green corridors, opening new border crossings, and reconstructing existing ones to enhance the free movement of both business and people.

Representatives from the Greek customs authority emphasized that regional cooperation will be strengthened through the establishment of Green Corridors, which will facilitate bilateral information exchange between the EU (Greece) and Western Balkan countries. Greece was the first EU member state to sign the Memorandum of Understanding on the Electronic Data Exchange in July 2022 (with the Memorandum of Understanding between North Macedonia and Greece). The Green Corridors of the CEFTA-Transport Community are becoming a reality at the border crossings between CEFTA parties and the EU, demonstrating the highest level of cooperation to fully implement bilateral data exchange, aiming to expedite the flow of goods.

Several segments are particularly significant for developing cooperation between the two countries. Key aspects include geographic proximity, infrastructural connectivity, and already established excellent business links between companies from both countries. Additionally, more than 100 companies with Greek capital are already operating in our country, recognized as serious investors contributing to the overall economic growth and export performance of the national economy.

As pointed out by the participants at the business forum, priority should be given to increasing the export potential of Macedonian companies, regional cooperation, and joint market access by companies from these countries into third markets. There should also be a readiness for even stronger cooperation and deepening of economic relations between the two countries to fully utilize the existing potential.

It was jointly concluded at the event that the potential for cooperation between businesspeople from the two neighboring countries is significant. This business forum is expected to yield concrete results in establishing and enhancing partnerships, entering third countries, and participating in joint projects. This will create opportunities for intensifying mutual cooperation and achieving more dynamic investment and trade activities.