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Azeski-Masoutis Meeting: Deepening Cooperation Between North Macedonia and Greece as a Prerequisite for Regional Progress and Improved Economic Outcomes

18/12/2024

 Last night in Thessaloniki, a meeting was held between Branko Azeski, President of the Economic Chamber of North Macedonia, and Ioannis Masoutis, President of the Union of Hellenic Chambers of Commerce and Industry. Key points discussed included deepening cooperation through enhanced infrastructure and better networking between companies from the two countries. It was emphasized that the Thessaloniki Port serves as a crucial hub for businesses, and Greece bears significant responsibility for its efficient functioning.

During the meeting, apart from enhancing cooperation, Azeski and Masoutis also addressed broader regional issues, including current economic issues, the Balkan countries’ EU accession prospects and trade and economic integration in the region.

ECNM President Azeski, who also serves as the 2024 Chair of the Association of Balkan Chambers (ABC), highlighted the importance of a working meeting in Skopje at the beginning of 2025. This meeting will focus on Balkan infrastructure development, particularly addressing railways, a longstanding challenge for transportation and a critical tool for regional business. In this context, at the Thessaloniki meeting, both chamber presidents underscored the main topics for discussion and actionable steps to be taken at the upcoming ABC meeting in Skopje.

The Association of Balkan Chambers (ABC), marking its 30th anniversary this year, unites 11 chambers of commerce from the Balkan region. Its goal is to foster integration and economic cooperation among its members, which include the Economic Chamber of North Macedonia, the Chamber of Commerce and Industry of Albania, the Bulgarian Chamber of Commerce and Industry, the Foreign Trade Chamber of Bosnia and Herzegovina, the Chamber of Economy of Montenegro, the Union of Hellenic Chambers of Commerce and Industry, the Cyprus Chamber of Commerce and Industry, the Chamber of Commerce and Industry of Romania, the Chamber of Commerce and Industry of Serbia, the Union of Chambers and Commodity Exchanges of Turkey, and the Kosovo Chamber of Commerce.

* Total trade between North Macedonia and Greece in January-October 2024 reached $1.15 billion, down 7.3% compared to the same period in 2023. Exports amounted to $251 million (-10.4%), while imports were $896.3 million (-6.3%), resulting in a trade deficit of $645 million.

* Total trade between North Macedonia and Greece in January-October 2023 was $1.46 billion, marking a 17.7% decrease from 2022, largely due to declining energy prices. Exports totaled $331.2 million (-3.3%), while imports were $1.13 billion (-21.1%), leaving a trade deficit of $797 million.

Greece was North Macedonia's third-largest trading partner in 2023. Over the past decade, Greek investments in North Macedonia amounted to €445 million, making Greece one of the country's largest investors and trade partners.