Greece and Saudi Arabia are deepening their strategic partnership, focusing on expanding investment and trade opportunities between the two nations, Greek Development Minister Takis Theodorikakos announced on Monday.
Theodorikakos met with Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Ibrahim Alkhorayef, and the CEO of the Saudi National Industrial Development Center, Saleh Al-Solami, during an official visit to the Elefsis Shipyards.
The visit followed a meeting at Greece’s Ministry of Development earlier in the day, held in what officials described as a positive and productive atmosphere. Discussions centered on enhancing bilateral cooperation in key sectors, including shipbuilding, pharmaceuticals, agri-food, and construction. The talks also addressed efforts to attract Saudi investment to Greece and support Greek businesses looking to expand operations in Saudi Arabia.
The meeting was attended by senior officials, including the Secretary General for Private Investments, Stellina Siarapi, the Secretary General for Industry, Lefteris Kritikós, Ambassador Katerina Varvarigou, and Saudi Arabia’s Ambassador to Greece, Ali Abdulrahman Bin Yousef.
Following the talks, Theodorikakos emphasized the importance of the relationship:
“We had a very positive and constructive meeting with the Minister of Industry of Saudi Arabia, a country with a strong regional and strategic role in the Middle East. Our trade volume currently stands at around €1.9 billion, and our shared goal is to increase it significantly,” he said.
“We agreed to facilitate major Saudi investments in Greece, particularly in shipbuilding, agri-food, pharmaceuticals, and construction, while supporting Greek businesses interested in investing in Saudi Arabia.”
After the meeting, the ministers visited the Elefsis Shipyards, where they were welcomed by ONEX Shipyards & Technologies President and CEO Panos Xenokostas. They toured the facilities and discussed opportunities for Saudi investment in Greece’s shipbuilding and defense industries.
Officials highlighted the Elefsis Shipyards’ growing role in revitalizing Greece’s shipbuilding sector, which has been designated a strategic investment under the Ministry of Development’s initiatives.
A working breakfast between representatives of major Greek companies and the Saudi delegation is scheduled for Tuesday morning.
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