Abdulla bin Touq meets Greek Prime Minister to boost bilateral ties

The Minister of Economy met several senior Greek figures at the Thessaloniki International Fair

Minister of Economy Abdulla Bin Touq talks with Greek Prime Minister Kyriakos Mitsotakis at the Thessaloniki International Fair. Photo: UAE Ministry of Economy
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Abdulla bin Touq, the Minister of Economy, has held meetings with Greek Prime Minister Kyriakos Mitsotakis and other senior officials at the UAE pavilion in the Thessaloniki International Fair, to boost co-operation between the two countries and explore ways to enhance bilateral trade and investment relations.

The ministers explored ways to expand the areas of economic collaboration, increase investment flows between the Emirates and Greece, boost tourism and increase the non-oil trade between the two nations, the government said in a statement on Wednesday.

Mr bin Touq met various senior officials including Greece’s Minister of Development and Investment, Deputy Minister for Economic Diplomacy and Openness, Minister of Tourism, and Minister of Infrastructure and Transport.

The UAE pavilion showcases the wide array of opportunities across various economic sectors such as tourism, manufacturing, technology, energy, health, pharmaceuticals and research and development.

It sheds light on the UAE’s new economic model and strategy to establish a diverse economy and develop the nation’s non-oil economic sectors. The UAE recorded its highest-ever non-oil exports in the first half of 2022, with a total value of Dh180 billion ($49.01bn).

The UAE and Greece established a strategic partnership in 2020 based on a relationship that dates back to 1976, when the countries set up a joint committee for economic, cultural and technical co-operation.

They announced a €4.2bn ($3.99bn) joint investment fund during Mr Mitsotakis's visit to Abu Dhabi in May. Investments will be made in sectors including infrastructure, renewables and new forms of energy, health care and pharmaceuticals, food and agriculture, and logistics, state news agency Wam reported.

In 2021, the value of non-oil foreign trade between the UAE and Greece reached about Dh2.1bn, up 67 per cent from 2020, Ministry of Economy figures show.

In November, Etihad Credit Insurance, the UAE’s federal export credit agency, signed a preliminary agreement with Greece’s Export Credit Insurance Organisation to boost bilateral trade and economic co-operation.

Updated: September 14, 2022, 5:49 PM