The Hellenic Foreign Trade Board, a quasi-government organization, handles marketing and promotional activities included in its annually submitted business plan. Three-fifths of the Board's annual budget covers promotional activities; two-fifths covers exhibitions. Twenty percent of the Trade Board's funding comes from the private sector, and eighty percent from EU regional support (infrastructural) funds aimed at the less affluent Target 1 countries such as Greece and Portugal. The Ministry of National Economy has overall control of the funding. The action plan of the Board includes promotion of products and services, market surveys, support and counsel of exporting firms, and training. The Hellenic Board currently promotes olive oil, marble, jewelry, pasta, wine and ouzo. In the near future, farm-raised fish, horticultural and dairy products as well as sultanas are to be promoted.
Greece is the chief EU producer of extra virgin olive oil and ranks third, after Spain and Italy, in total olive oil production. Hellenic Board activities to promote of olive oil involve improved packaging and targeted promotion of olive oil in the United States, where Italy, Spain and Turkey dominate the market. Greece hopes to increase its current 5-percent share of the U.S. olive oil market. The budget for the U.S. olive oil campaign is $4 million dollars annually for 3 years (1996-98) In the future, Australia and England will be included in the program. In addition, pasta, olives, dairy and confectionery products will be promoted in the United States in 1997.
Greek wine producers also have targeted Germany for the wine promotions. Campaign costs are estimated at $2 million annually for a 3-year advertising campaign (1994-1997). The target market for ouzo is Germany for $1.6 million annually for a 3-year promotional and advertising campaign (1994/97).
The Hellenic Trade Board also participates in exhibits abroad. In 1995, the Board spent $9.1 million, of which 75 percent was covered by the Board's funds and the remaining 25 percent by individual companies which participated in the Board's pavilion. Four million dollars was estimated as the agricultural and food-product share of the trade fair budget for the Hellenic Trade Board and was included in Table 1.