Samaras attends ZTE-Cosco deal signing in Piraeus

Prime Minister Antonis Samaras on Wednesday attended the signing ceremony of an agreement between Chinese global telecommunications giant ZTE and Chinese shipping firm Cosco that will see the former using the latter’s cargo terminal in Piraeus as a distribution center for its products.

The deal was developed during the premier’s visit to China in 2013.

Following the deal ZTE products will reach markets in 12 European states, including Austria, Hungary, Bulgaria, Romania, Italy and Spain, via the Greek port city.

In his speech Samaras hailed the signing of the agreement between the two Chinese firms noting that deal highlighted the “new framework of trust and stability we are building in our country.”

The investment was expected to lead to the creation of 600 jobs, Samaras said.