Taking the thread from the last visit of Prime Minister Kyriakos Mitsotakis five months ago to Saudi Arabia and his meetings with the Crown Prince of Saudi Arabia Mohamed Bin Salman and Saudi businessmen, the Greek-Saudi Arabian started this morning in Riyadh.
Opening the Forum, the Minister of Investment of Saudi Arabia, Khalid bin Abdulaziz Al-Falih, welcomed in Greek, saying “good morning”, the Greek Minister of Development and Investment, Adonis Yerfydo, for Economic Diplomacy, Costas Frangogiannis, the Deputy Minister of Development Giannis Tsakiris and the Deputy Minister of Tourism Sofia, as well as the members of the Greek governmental and business mission. He also thanked the members of the Saudi business community, as well as other countries, for their participation in the Forum.
Starting his greeting, the Saudi Minister of Investment referred to the historical heritage of the two countries, on the occasion of yesterday’s visit of the government and business mission to Al Oula, as well as to the common historical ties that unite them. He noted that Greece was one of the first countries to recognize the modern state of Saudi Arabia that in a few years they will celebrate the 100 years of modern diplomatic relations.
Referring to his visit to Greece in September, he described it as excellent, as well as the Greek hospitality, while he described the establishment of the joint business conference as a milestone, which, as he said, will help the two countries strengthen bilateral trade and investment and promote relations between the two countries. He also referred to the agreement on maritime transport, considering that it would deepen bilateral cooperation in this field.
In terms of bilateral trade, the Saudi Minister of Investment noted that it is below expectations and potential. Regarding investments, he said that currently 14 Greek companies operate in Saudi Arabia in various sectors and reiterated that this is far below the capabilities of the two countries and their business communities. In this context, he stressed the importance of the Forum, said that it will enable the two countries to build on what has been achieved and will provide an opportunity to seek concrete proposals to increase investment, both in Saudi Arabia and in Greece, and in the development of the two economies.
He then focused on the areas in which, in his view, there are opportunities for bilateral cooperation, referring to tourism, logistics, shipping and maritime transport, energy, construction. Indicatively, he said the tourism sector of Greece is impressive and a protagonist worldwide and referred to the huge potential that exists in Saudi Arabia. Regarding shipping and maritime transport, the Saudi minister said that it is another sector in which Greece plays a leading role and added that we warmly welcome Greece’s cooperation in upgrading ports in Saudi Arabia, in improving the logistics network, as well as and making investments. In terms of energy, he noted that Saudi Arabia is known as an energy superpower in terms of oil and expressed the intention to maintain its lead in energy from renewable energy sources, green energy and stressed the efforts to lead his country. in “green hydrogen”. He added that Greece has significant potential in multiple forms of energy, including renewable energy sources and underlined the prospect of cooperation between the two countries in this field. Equally, after praising the Greek construction sector, their experience, expertise and strong presence in international markets for over five decades and emphasizing construction projects in Saudi Arabia.
Looking to the future, he welcomed the progress made in the bilateral investment agreements and said that the opportunities are endless and that Saudi Arabia is open for investment. Finally, he referred to Saudi Arabia’s “Vision 2030” policy, aiming to make it one of the 15 largest economies in the world.
Bilateral business meetings (B2B) are organized within the framework of the Greek-Saudi Investment Forum, organized by Invest Saudi and Enterprise Greece under the auspices of the General Secretariat for International Economic Relations. The ambition of both sides is to strengthen and deepen the economic and business relations between the two countries.
Source: AMPE
Source: Capital
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