An article by journalist Bill Carrey (“Finding Opportunities in Recession-Troubled Greece”) in the Canadian newspaper The Globe and Mail refers to recent Canadian investments in Greece, as well as the risks that the continuing debt crisis is hiding.
According to the article, the trade balance between Canada and Greece is negative, since the surplus of $20 million in 2007 (total exports were $155 million) has turned into a trade deficit of $80 million presenting total exports of $88 million.
The columnist refers to the Canadian corporations that have recently invested in Greece, such as manufacturer of advanced wind turbines designed specifically for distributed wind power applications Endurance Wind Power, Vancouver, whose annual exports of which are estimated to amount to $80 million in Greece and Europe.
The article also focuses on gold mining firm El Dorado, which will engage in business activities in the area of Thrace. The project is estimated at $190 million and is expected to offer 400 employment posts for the construction of the mine and 200 permanent job posts for the gold mining phase.
Ambassador of Greece in Canada Eleftherios Aggelopoulos pointed out to the Canadian journalist that the rapid investment of El Dorado proves that structures in Greece change swiftly and effectively, and he called on Greek-Canadian investors to invest in Greece.
“Greece is changing,” noted the Greek Ambassador, underlying, “There are plenty reforms that are being implemented and I believe that in that new, positive business framework there will be many investment opportunities.”
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