Blue economy a key pillar of Greece’s future

Greece’s powerful shipping industry was built through hard work, boldness and entrepreneurial drive, by people who turned the sea into a source of national strength, Development Minister Takis Theodorikakos said in an address at a Maritime Club luncheon in Piraeus.

“It has become a global economic success story, and a small country like Greece commands a formidable presence in shipping, effectively ranking first,” he noted.

The minister stressed that “in a world of uncertainty and intense international competition, we must build an economy that, alongside fiscal credibility, delivers strong productivity and competitiveness — a resilient economy with solid foundations in industry, modern technologies, innovation, competitive products, high-quality services and a dynamic export orientation for goods and services.”

“Ιn the future, Greece must produce more, export more, incorporate greater knowledge and technology, and generate higher value added in its output,” he said, adding that “Greek shipping is the spearhead of a modern, competitive economy, as its scale and global footprint far exceed the size of the country and its GDP.”

Theodorikakos underlined that Greece must have a productive and competitive economy, adding that “Greek shipping entrepreneurs are, above all, patriots — people who love their country and demonstrate it in practice, also delivering significant social contributions.”

Referring to the sector’s strength, he said Greece controls 5,691 vessels, representing around 20% of global tonnage. “Maritime transport is essential to the prosperity of billions worldwide, as more than 80% of global trade by volume is carried by sea. Greek ships transport goods, fuels and energy raw materials, play a leading role in global supply chains and have a decisive impact on the functioning of the international economy.”

He added that Greece’s ports, combined with its geostrategic position, give the country the potential to become an even stronger transport, logistics and energy hub — a strategic gateway for Europe and beyond. “In 2024, Greek vessels called at ports in 180 countries. Through shipping, Greece is present everywhere, which is why it is such an important pillar.”

“At a time when international balances are shifting rapidly, and when energy, raw materials and supply chains are directly linked to security and stability, Greece has a major advantage — its shipping sector. It is a powerful instrument of security,” he said.

The minister also highlighted Greece’s long-standing ties with the United States and its “firm and strategic choice to belong to the Western world,” noting that “this choice becomes even more significant in a period of global instability and fluidity. I believe the alliance between the United States and the European Union, as well as among European states, will soon reassert itself as a key constant and a cornerstone of the global security system. Within this framework, Greece can act as a force for stability, reliability and cooperation in the wider region.”