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China's Commerce Minister said Tuesday that China is willing to enhance economic cooperation with Greece, especially in relation to the shipping industry.

Minister of Commerce Bo Xilai said when meeting visiting Greek Minister of Economy and Finance George Alogoskoufis in Beijing that Greece, a giant shipping power, should team up with China whose shipping needs are on the rise. The two nations are complementary, he said.

He added that the trade imbalance between the two countries would gradually ease as bilateral cooperation advanced.

"I notice that Greek ship-owners have placed an order for four oil tankers in Shanghai. Meanwhile, Chinese firms are importing Greek products such as olive oil and marble," Bo said.

Alogoskoufis said that China's economic development was rapid.

He said that Greece excels in shipping, tourism and services. But traditional Greek farm produce such as grapes and wine also sell well in China.

Greece could become a significant point of entry for China to expand its trade with Europe, he added.

Since Greece is listed as a Chinese tourism destination country, the two countries can arrange chartered flights to gauge the tourism market potential, Bo said.

Official data show that trade volume between China and Greece hit US$2.02 billion last year, a threefold rise since 2000.

As of May, Greece had invested US$100 billion on 58 projects in China.

(Xinhua News Agency October 25, 2006)