Learn about barriers to market entry and local requirements, i.e., things to be aware of when entering the market for this country.
  • Lack of market liquidity reduces consumption, necessitates supplier flexibility on payment terms, and seller-financing solutions.  The situation worsened with the imposition of capital controls in June 2015, and has slowly improved since then.
  • Stiff competition from Greece’s traditional EU trading partners -- Italy, Germany, France, the U.K., and the Netherlands.
  • EU suppliers have duty-free status and proximity to the Greek market (lower transportation costs and faster service).
  • Competition in many industry sectors in Greece can be characterized as oligopolistic, making it difficult for new entrants to penetrate the market.
  • Eurostat ranks Greece low on its Payment Index, meaning that the risk of non- or delayed payment is high, especially for public sector contracts.
  • According to the OECD, Greece has one of the more restrictive business environments as it pertains to inward investment.  Business is heavily regulated.
  • The public sector share of GDP exceeds 40%.  Public procurement is consequently an important feature of the commercial landscape.  The Government of Greece prefers, and often requires, foreign bidders to partner with Greek companies.
  • Businesses face frequent changes to the tax and regulatory environment. 

 Greece is a signatory to the OECD Anti-bribery Convention.  On Transparency International’s respected Annual Perception of Corruption Index for 2017, Greece ranked 59 out of 180 countries surveyed.
Historically, U.S. exporters and investors have faced relatively low barriers to doing business in the EU.  Nonetheless, issues exist, as would be expected, given the breadth and depth of the commercial relationship.
While the EU continues to move in the direction of a Single Market, the reality today is that U.S. exporters in some sectors continue to face some barriers to entry and other challenges.  In several industries such as pharmaceuticals, telecommunications, legal services, and government procurement, some of these barriers are pronounced in some member states.
EU legislation generally takes two forms. “Regulations” have mandatory language and are directly applicable in member states when implemented. “Directives” provide a general framework and must be “transposed” into national legislation at the member state level.  Differences in how directives are transposed in Greece and other member states complicate compliance for U.S. companies doing business in the EU.  Industry has periodically raised concerns over perceived onerous regulations and high compliance costs.

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.