The Start of a Remarkable Trade Relation
Greece is a country situated in Southern Europe particularly on the Balkan Peninsula. Under the Turkish rule of the land which lasted for centuries, little economic growth was seen in the country. Upon gaining its independence in 1830, Greece was then known as a backward and peasant country. Economic development started after world War II where the United States played an important role especially in the extension of foreign aid. Greece became an associate member of the European Community in 1962. In 1981, it was admitted as a full member but encountered some difficulties working for a system which is focused on the more economically advanced countries. Agriculture, to these days, is considered to be the most important aspect in economic activity. Peasants cultivate holdings that are uneconomically small. They used old-fashioned and at some points primitive methods of farming. In remote areas, plows similar to those represented on classical Greek vases are still used. In 1950's, a so-called land-redistribution program made the holdings larger. The primary agricultural products are wheat, fruits and industrial crops. Fruits were basically comprised of grapes, olives and citrus fruits. Industrial crops, on the other hand were cotton and tobacco. Greece was known to be self-sufficient in bread grains coupled by exports of tobacco and dried grapes such as raisins and sultanas. Animal rearing is restricted due to a shortage of grass and fodder. Sheep and goats could subsist on the coarse grass of the hills, were considered to be the most numerous farm stock. Fishing, at one end is important around Greece's coast. Among the species caught are tunny and octopus, which are considered as delicacies of the country. Manufacturing includes canning and drying of fruits. They also focus on winemaking and distilling as well as tobacco preparation. Most factory industries are found near two of Greece's largest cities which are Athens and Thessaloniki (formerly known as Salonika). Cement, fertilizers, simple chemical products and china and glass are made for the domestic market. A small aluminum industry exists and an oil refinery had also been built. Greece's trade volume is very small. Despite this fact, it never failed to work for its subsistence. Trading partners were basically comprised of EC member nations but the US in effect contributed as well. Greece have shared common heritage and cultural ties with the United States and the expansion of their trade was even supported by the same democratic values and political strengths they believed in. Major Exports and Imports Between the US and Greece Since 1946, the end of World War II, the United States have already economically contributed an amount of $11.1 billion to Greece. The economic programs had to stop by the year 1962 but military assistance continued to flourish. Until now, exports and imports come and go from the territorial jurisdictions of these countries. For the period ending August 2008, the US Census Bureau had reported a total amount of exports from the United States to Greece which is $1.24 billion. The US imports from Greece on the other hand, made up a total of $595 million. As per the records collated for 2007, the following commodities were found to be on top of the long list:
Founded by their prospering trade, trade agreements were also signed between the United States and Greece. Their economic relations were further intensified by the pacts they have made, whether verbal or written. The verbal part was merely based on word of honor while the written ones were sufficient to cover-up for their foreign exchange. Examples of treaties they have worked on are:
The merits on trade between the US and Greece was extremely high. Based on the records, financial and other assistance were readily extended by US to Greece. This had furthermore strengthened the ties between these two nations. Greece was a developing country and through time, it had been supported by the US in its quest for greater stature in international trade. The only dispute which had hampered the trade relations between these two nations is Greece's opposition to US's war on terror against Iraq. Just like other members of the European Union, Greece believes that this type of war was not on the same level as those dictated by the global movement against terror. The conflict was further intensified by Greece's participation on the training of Iraqis in Bulgaria. The Future Between US-Greece Trade Relations Just a couple of days ago, Barrack Obama was declared new president for the United States. The question on its future with Greece and other nations may remain uncertain as to this point. There are still things which need to be observed before making a conclusion as to the entire future of international economy. By principle, however, no change of government may have hindered the trade relations of US to any of its comrades in the world. It is safe to say that whatever lies ahead will still be fruitful. As they have supported Greece through time, this will continue to flourish in the future. A significant relationship which have rooted from political views and other beliefs will truly be the foundation for better days, weeks, months and years ahead. The only thing to be focused on right now is to extend more reforms that could help the Greeks improve their way of living. Modernization may be introduced with of course the agreement of its people. This will definitely make them stand the tests of time but of course with the help of other nations in world trade. Developing as they may seem, Greece has yet to prove itself. If need be, a good alliance with the EU and the United States will definitely transmit Greece's fate to higher grounds. US-Greece Trade References
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Greece's major industries includes food and tobacco processing, textiles; chemicals, metal products;
mining, petroleum and tourism/shipping which still continues to drive much of the Greek economy.
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