Under the management of Cosco Shipping Ports, Piraeus has become the Mediterranean’s leading container handling port, the fourth in Europe and 26th globally. Both countries have been expressing intentions to intensify their (trade) relationship, at least as voiced by the Greek President, and a member of the Political Bureau of the Communist Party of China (CPC) Central Committee [China and Greece pledge joint work on Belt and Road Initiative]. The motives of the Chinese representatives remain unclear. The same could be said on the legitimacy of the statements being made.
On a European level concerns are being raised by the European Court of Auditors, an organization that audits the EU’s finances. The Court has established that 15 EU member states have been violating EU laws by not consulting an EU executive prior to entering into a trade agreement. The lack of a European approach to the BRI is not helping the EU either. Furthermore, there is a need for more (accurate) information on BRI investments in the EU. There are also some concerns with the MOUs. Overall, they are benign. However, the language of these MOUs leaves room for interpretation, which parties can use to assert influence. The MOUs are non-binding, and regional officials of EU member states sign them to make China happy. However, it is not clear how they will act when the states themselves are not happy. According to the Court this is a cause for concern, and there is a need for a more uniform approach [EU’s Court Of Auditors Complains About China’s Belt & Road MoU Deals & Lack Of Strategic Intelligence – But There Are Solutions].
Ali Çikmazkara
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