page_title: Greece–United States relations
section_title: Trade and foreign direct investment
hierarchical_section_title: Greece–United States relations / Trade and foreign direct investment
caption_attribution_description: English: Athens, Greece. Secretary Rice meets with Greek Foreign Minister Theodora Bakoyannis (left) and Greek Prime Minister Costas Karamanlis (center) at Maximos Palace in Athens. State Department Photo. Français&#160;: Dora Bakoyannis, Costas Karamanlis et Condoleezza Rice, le 25 avril 2006.
context_page_description: Greece–United States relations, also known as Greek–American relations, refers to bilateral relations between the Hellenic Republic and the United States of America.
  Due to the strong historical, political, cultural and religious ties between the two nations, Greece and the United States today enjoy excellent diplomatic relations and consider each other an ally. Modern diplomatic relations between the two countries were established in the 1830s after the Greek War of Independence and are today regarded as cordial.
  Greece and the United States have long-standing historical, political, and cultural ties based on a common western heritage, shared democratic values, and participation as Allies during World War I, World War II, the Korean War, the Cold War and the War on Terror.
context_section_description: Mainly the Greek products exports to the United States involve  petroleum products, cement, tobacco, fur products, olive oil, marble, clothing articles, steel products, pipes, and refractory products. On the other hand, U.S. imports to Greece mostly are industrial and agricultural products and machinery, telecommunications equipment, computers and electronic equipment, timber, medical and pharmaceutical items, machinery and parts, skins, and wood-pulp. 
  Even though the United States imposed restrictions on the importation of certain fresh or processed agricultural products, there is full freedom of sale of Greek industrial products in the whole U.S. market. The EU-United States Agreement signed in May 1993 allows Greek enterprises access to U.S. public contracts. Trade between the two countries amounted to nearly a billion US dollars in 2010. Due to the Credit Crunch Crisis of 2008 that has negatively affected the Greek economy, thousands of U.S. firms have shifted their productive activities from other Balkan countries and Italy to Greece due to lower costs of production.
  The Greece-US Economic & Commercial Cooperation Committee (ECCC) is also currently working to bilaterally expand trade flow and cooperation, and widen their market in Southeastern Europe, the Black Sea and the Middle East.
caption: Meeting of the Secretary of State Condoleezza Rice, Greek Foreign Minister Dora Bakoyannis (left) and Greek Prime Minister Kostas Karamanlis (center) at Maximos Mansion in Athens
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