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Greece is witnessing a series of international developments which necessitate an adjustment process, but also offer a new perspective for development. CAP reform, the Uruguay Round Final Act, market liberalization and the prospect of European Union enlargement by Central and Eastern European countries (CEEC) imply new problems, but also new opportunities. In order for Greece to confront adjustment problems successfully, it is necessary that an integrated strategy for sustainable rural development be developed. National regional and inter-sectoral policies for rural sustainable development should be supplemented by increased, mutually beneficial economic co-operation in the CEEC and in the wider Black Sea region. This paper examines and identifies patterns of trade, production and investment that Greece should adopt, in order to establish fruitful and mutually beneficial economic co-operation with the CEEC. [ABSTRACT FROM AUTHOR]