ATHENS, Greece / RankWire.AI / – Under a joint venture initiative, the United Arab Emirates intends to inject an extra €15 billion into Greece, as announced during the official visit of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to Athens on October 22. This new pledge extends the €4 billion project launched in May 2022, aiming to strengthen economic and strategic relations between the two nations.
The Abu Dhabi Media Office highlighted that this expansion would enhance cooperation across sectors deemed strategic and vital for development for both countries. The original framework facilitated joint investments in areas of mutual interest, resulting in notable deals in energy and healthcare sectors. Officials noted these successes demonstrated how the partnership could transform economic prospects into concrete investments. The additional funds supplement the existing agreement.
During his visit, Sheikh Khaled held discussions with Greek Prime Minister Kyriakos Mitsotakis at the Prime Minister’s Office in Athens. Topics included increasing collaboration in energy, infrastructure, healthcare, and advanced technology. The leaders also examined regional and global developments, emphasizing the need to bolster security, peace, and stability. Greek Foreign Minister George Gerapetritis welcomed the Crown Prince upon his arrival at Athens International Airport, underscoring the ongoing growth of bilateral ties.
Strategic forum results in €12.75 billion worth of agreements
The visit coincided with the UAE-Greece Strategic Forum held in Athens, where agreements and commercial partnerships surpassing €12.75 billion were signed by UAE and Greek organizations. These cover areas such as digital infrastructure, artificial intelligence, renewable energy, industry, logistics, ports, healthcare, life sciences, and food security. It is important to note that these accords are distinct from the €15 billion investment plan. The forum was attended by Mitsotakis and senior officials from both governments.
UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi expressed that the agreements and the new investment plan reflect increasing confidence in the economic relationship between the two nations. He emphasized that the focus now is on transforming this momentum into tangible projects. Al Zeyoudi also described the UAE as a hub for trade, investment, and connectivity, while noting Greece’s role as a gateway to Europe. Greek Deputy Foreign Minister Haris Theoharis also participated in the forum.
Greece positioned as a strategic access point to European markets
The UAE’s decision underscores its confidence in Greece’s economic potential and investment climate, citing Greece’s strategic geographic position as a key factor in linking European markets with regional and global economies. The expanded initiative aims to foster cooperation between investment institutions and companies from both nations and to promote innovation along with knowledge exchange. It seeks to unlock new investment opportunities and collaborations.
This announcement is part of a broader UAE strategy to forge enduring investment alliances within Europe. In September, the UAE unveiled a €40 billion investment package for Germany across multiple industries, and negotiations with other European partners such as Italy have intensified. Officials indicated that Greece’s initiative could mark the beginning of a new phase of cooperation that extends beyond mere financial commitments.