Emirates News Agency – UAE, Greece discuss strengthening strategic relations

ATHENS, 23rd June, 2022 (WAM) — The Minister of Industry and Advanced Technologies, Dr. Sultan bin Ahmed Al Jaber today met Kyriakos Mitsotakis, Prime Minister of the Hellenic Republic, during his visit to Athens, in Greece.

Dr Al Jaber also met with Nikos Dendias, Minister of Foreign Affairs; Spyridon Adonis Gougiades, Minister of Development and Investment; Costas Sikriaks, Minister of Environment and Energy; and other government officials and private sector representatives. The meeting was also held in the presence of Suleiman Al Mazrouei, Ambassador of the United Arab Emirates to Greece; Musabbeh Al Kaabi, CEO of UAE Investments at Mubadala Investment Company; and Hamad Al Hammadi, Executive Director, Energy and Utilities at the ADQ.

The UAE Minister conveyed to the Prime Minister the greetings of the leaders and people of the UAE. They also discussed ways to improve relations between the two countries and opportunities for joint investment in areas that would enhance strategic cooperation and ensure sustainable economic growth for both countries.

Dr. Al Jaber said the leaders of the United Arab Emirates are keen to build and strengthen ties in vital areas and promising sectors that contribute to achieving sustainable economic growth for both nations.

He also met with several ministers and officials from the Greek government and the private sector to discuss the latest regional and international developments and ways to strengthen economic cooperation between the UAE and Greece. The meetings build on the results of the Prime Minister’s visit to Abu Dhabi in May, which saw the signing of several agreements and memorandums of understanding in a number of sectors vital to the two countries.

“The wise leadership of the UAE is keen to build and strengthen cooperation with the international community. This reflects the great importance we place on strengthening bilateral relations with Greece, supporting the efforts of the strategic partnership between our two countries. , which will undoubtedly contribute to the strengthening of bilateral relations, cooperation in areas of mutual interest and the achievement of sustainable economic growth,” Dr. Al Jaber noted.

He said that since the launch of the strategic partnership in November 2020, relations between the UAE and Greece have grown significantly despite the impact of the pandemic around the world. The comprehensive partnership has also contributed to strengthening economic and international cooperation and areas of common interest, including the economic field, international cooperation, investment, energy, environment, agriculture, among others.

During the visit, the ADQ chaired the UAE-Greece Business Forum alongside CEOs of Emirati companies in the sectors of energy, investment, health, agriculture, defence, infrastructure, real estate development and finance.

The forum served as a platform to activate the €4 billion joint investment fund, announced during the Greek Prime Minister‘s visit to Abu Dhabi last May. This forum will also help strengthen communication channels between partners on both sides and ensure the creation of investment opportunities under this fund.

Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ, said: “As part of our long-term commitment to expand strategic cooperation with Greece, the UAE-Greece Business Forum supports the UAE’s vision and its “Principles of 50” to achieve development, diversify strategic investments and explore investment opportunities that would promote sustainable economic growth.

“Alongside our sovereign partners, we also aim to strengthen the partnership and investments between our two countries in many vital sectors such as industry, infrastructure development, food and agriculture, renewable energies, tourism, aviation and FinTech.”

Trade relations between the UAE and Greece have witnessed remarkable growth. The value of non-oil foreign trade between the two countries reached over AED2.1 billion, an increase of 67% from 2020 and 23% from 2019, reflecting a significant jump in growth compared to the pre-Covid-19 pandemic.

The value of Greek investment activity in the UAE reached over AED341 million at the end of 2019, of which around 50% was boosted in real estate activities, 23% in transport and storage, 20% in construction and 4% in information and communication technologies. . Meanwhile, UAE investments in Greece increased to reach AED 954 million at the end of 2020.

Comments are closed.