A Bridge Between Nations: Kobi Biton on Economic and Trade Partnerships Between Israel and Greece

The radio program "Building Far Away," hosted by Merav Miller and Aviv Cohen, welcomed Kobi Biton, CEO of the Israel-Greece Chamber of Commerce, who provided fascinating insights into the developing economic relations between the two countries and the activities of Israeli investors in Greece

The latest episode of the radio program “Building Far,” hosted by Merav Miller and Aviv Cohen, featured Kobi Biton, CEO of the Israel-Greece Chamber of Commerce. During the conversation, Biton discussed the Chamber of Commerce’s role in connecting the two economies, the development of economic relations between the countries, investment opportunities, and bureaucratic challenges.

The Greece-Israel Chamber of Commerce – Connecting Economies

Biton explains that the Chamber of Commerce is an independent body that operates without government funding and is one of 51 binational chambers in Israel. Establishing such a chamber requires official approval from diplomatic and economic authorities, and it is designed to promote trade, investment, and economic initiatives, while avoiding involvement in political and consular matters. The Chamber works in cooperation with its Greek counterpart to help companies and entrepreneurs on both sides identify business opportunities.

The beginning of the "Golden Age" of economic relations

Biton’s involvement in Greek affairs began as early as 2008 and deepened during the Greek economic crisis of 2010. According to him, Greece managed to turn the challenges of the crisis into new economic opportunities. During this period, trade ties with Israel strengthened, and Israeli entrepreneurs took a particular interest in the real estate and hospitality sectors. 

During this period, a close relationship developed between Israel and Greece, as the Greeks, who were grappling with a severe financial crisis, viewed Israel as a stable and innovative economic partner. Israelis, for their part, showed growing interest ininvesting in Greece , particularly inGreek real estate and the hotel industry. Young Israeli investors found attractive opportunities in Athens, but at the same time, Biton notes that there are significant differences in business practices. For example, memoranda of understanding in Greece carry less legal weight than in Israel, and the Greek real estate market is highly dynamic, where better offers can quickly override previous agreements.

Current Situation and Challenges

Despite the widespread perception of significant Israeli investment inreal estate in Athens, Biton clarifies that Israel is not among the city’s leading investors, in contrast to its dominant presence in Cyprus. He explains that this is due to Israel’s small size, but emphasizes that ties between the countries are based on strong strategic interests. Greece is an important partner for Israel, primarily due to its role as a bridge to Europe and a vital logistics hub, with major ports such as Piraeus. Additionally, the shared concern regarding Turkey strengthens cooperation between the countries, which is also reflected in security and military procurement. Israel even assisted Greece during the difficult periods of the economic crisis, and Israeli investors are highly regarded, particularly in the hospitality sector, where they have become leading players in recent years.

Challenges Facing the Israel-Greece Chamber of Commerce

One of the Chamber of Commerce’s main challenges is funding its operations. The Chamber relies on membership fees collected from Israeli companies and Israeli residents with ties to the Greek market. Biton takes pride in having established an organization with high standards that works alongside leading partners, including senior businesspeople with Greek-Israeli backgrounds.

Future Plans: A Record Year of Activity

Looking ahead to 2025, the Chamber of Commerce plans to significantly expand its operations. This year is expected to be a record-breaking one, with an increase in the number of trade delegations and events to Greece. One of the main goals is to recruit between 80 and 100 new active members. Biton emphasizes his personal commitment to responding to inquiries and notes that the Chamber also assists non-members, with the broader goal of promoting trade. Notable events planned for the coming year include a major real estate conference and an economic exhibition in Greece, to which all interested parties are invited.

Opportunities alongside bureaucratic challenges

In conclusion, Biton noted that Greece offers investors attractive opportunities in various sectors, and its strategic position in Europe makes it increasingly important to Israel, both economically and in terms of logistics and geopolitics. It serves as a key bridge to Europe, and its ports play an important role in the international supply chain. Additionally, Greece and Israel share common interests in many areas, which strengthens their strategic alliance.

Despite the advantages of investing in Greece andbuying property in Greece , Biton emphasizes that it is important to understand the business culture, bureaucratic procedures, and accepted practices in Greece in order to invest wisely.

Biton concludes that the Israel-Greece Chamber of Commerce plays a central role in promoting economic cooperation, and that there is still vast potential for further collaboration between the two countries. Both the Greek government and the local business community welcome Israeli investments, and Greece even draws inspiration from Israel’s success in areas such as innovation and cybersecurity. In addition, the strong relations between the countries are also reflected in the political arena, as Greece recently joined the UN Security Council and may serve as a significant bridge between Israel and other global powers.

To wrap up the show, Cohen, Miller, and Biton discussed recommended sights to see in Athens and shared their tips for finding the best taverna on your next visit to the city.