Greece committed to enhance economic ties with Saudi Arabia: Official

Kostas Fragogiannis, Deputy Minister of Foreign Affairs for Economic Diplomacy and Openness, Greece

Greece is committed to enhance bilateral economic and trade ties with Saudi Arabia, said Kostas Fragogiannis, Greek Deputy Minister of Foreign Affairs for Economic Diplomacy and Openness.

The two countries have limited investments at present, but they are keen on boosting mutual cooperation, Fragogiannis told Argaam on the sideline of the Greek-Saudi Business Forum currently held in Riyadh.

The Saudi-Greek trade exchange reached nearly $1.5 billion, which doesn’t reflect the two countries’ aspirations, said Fragogiannis, adding that the two countries have direct investments in the hotels and tourism sectors. However, there is much more as regards marine transport and shipping, which are considered key industries in Greece.

Several meetings were held last September in Athens and Riyadh, as both countries exerted much effort to implement the mutual business plan aimed to increase investments.

Greece targets cooperation in tourism, marine transport, and shipping in addition to projects in renewable energy, green and blue hydrogen, infrastructure, climate change, entrepreneurship, and innovation.

The Greek delegation, which includes more than 50 businessmen, will hold meetings with over 150 Saudi companies, in addition to the meetings between officials from the business sector and the government.