UAE's Dr Sultan Al Jaber meets Greek prime minister in Athens

The ministers discussed joint investment opportunities and sustainable economic growth

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Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, on Thursday met with Prime Minister of Greece Kyriakos Mitsotakis during his visit to Athens.

Dr Al Jaber conveyed to Mr Mitsotakis the greetings of the UAE leaders and its people.

They discussed ways to further improve relations between the two countries. The ministers also looked for joint investment opportunities in areas that would strengthen strategic co-operation and achieve sustainable economic growth for both countries, news agency Wam reported.

Dr Al Jaber said that the UAE's leaders were keen to build and strengthen ties in vital areas and promising sectors.

"The UAE's leadership is keen to build and strengthen co-operation with the international community. This reflects the great emphasis we place on enhancing bilateral relations with Greece, supporting the efforts of the strategic partnership between our two countries," Dr Al Jaber said.

He said since the launch of a partnership in November 2020, UAE-Greek ties have grown substantially despite the global impact of the Covid-19 pandemic.

Dr Al Jaber also met with Nikos Dendias, Minister of Foreign Affairs; Spyridon-Adonis Gougiades, Minister of Development and Investment; Kostas Skrekas, Minister of Environment and Energy; and other government officials and private sector representatives.

The meeting was also attended by Suleiman Al Mazrouei, UAE's ambassador to Greece; Musabbeh Al Kaabi, chief executive of UAE Investments at Mubadala Investment Company; and Hamad Al Hammadi, executive director, Energy and Utilities at ADQ (Abu Dhabi Developmental Holding Company).

During the visit, ADQ chaired the UAE-Greece Business Forum alongside chief executive officers of UAE companies in the energy, investment, health care, agriculture, defence, infrastructure, real estate development and financial sectors.

The forum served as a platform to activate the €4 billion ($4.22bn) joint investment fund, which was announced during the visit of Mr Mitsotakis to Abu Dhabi in May.

Mohamed Hassan Alsuwaidi, managing director and chief executive officer of ADQ, said: "As part of our long-term commitment to expand strategic co-operation with Greece, the UAE-Greece Business Forum supports the UAE's vision and its 'Principles of the 50' to achieve economic 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 energy, tourism, aviation and FinTech."

Trade relations between the UAE and Greece have recorded remarkable growth.

The value of non-oil foreign trade between both countries reached more than Dh2.1bn. This is a 67 per cent increase compared with 2020, and up 23 per cent from 2019, which reflects a significant jump compared with before the Covid-19 pandemic.

The value of Greek investment activity in the UAE reached more than Dh341 million by the end of 2019, of which approximately 50 per cent was in real estate activities; 23 per cent in transportation and storage; 20 per cent in construction; and 4 per cent in information communication technology.

UAE's investments in Greece increased to Dh954m by the end of 2020.

Updated: June 23, 2022, 12:22 PM