The prospects for further strengthening cooperation between Greece and the United Arab Emirates (UAE) across a range of economic sectors, as well as increasing investment in the country, were highlighted by Deputy Prime Minister Kostis Hatzidakis in a speech at the Investopia Mediterranean- Athens conference.
According to a statement, Mr Hatzidakis, after referring to the significant investments the UAE has made in Greece in recent years, identified energy, trade and artificial intelligence as priority areas for further cooperation between the two countries.
Energy: Greece aims to become a regional hub
On energy, the deputy prime minister said Greece had made significant progress in renewable energy and had become an energy exporter in 2024.
“We are also investing in energy storage, electricity grids and new interconnections with countries such as Italy, Albania, Cyprus and Egypt. At the same time, we are strengthening gas infrastructure, including through the ‘Vertical Corridor’, which can help improve energy security across South-Eastern and Central Europe,” he said.
He said the government’s goal was to make Greece a regional energy hub, welcoming international partners who share that ambition.
Trade and connectivity
On trade, Kostis Hatzidakis said geopolitical tensions and supply chain disruptions had highlighted the vulnerability of global trade.
“This is where Greece can make a difference. It is at the crossroads of Europe, Asia and Africa. It is part of the European Single Market. And it maintains strong ties with the Balkans, the Eastern Mediterranean and the Middle East,” he said.
The deputy prime minister said Greece was seeking to build on these advantages to become an even more important centre for trade, logistics and international business.
He said this would require investment in ports, transport networks and modern infrastructure, as well as attracting businesses looking to expand into Europe and the wider region.
Artificial intelligence and digital infrastructure
Kostis Hatzidakis also identified significant opportunities for cooperation with the UAE in artificial intelligence (AI).
“Artificial intelligence is already transforming the way businesses operate, how public services function and how economies compete,” he said.
He said this development presented a significant opportunity for Greece, which had attracted leading international technology companies, was developing advanced digital infrastructure and was investing in research and computing power.
He also noted that the two countries had already signed a memorandum of understanding on investment in digital infrastructure and data centres.
New opportunities for cooperation in AI are also being explored, including through joint research, academic partnerships and practical applications across different sectors of the economy.
“Greek talent and expertise, combined with the UAE’s investment capacity and technological ambitions, can form a powerful alliance,” he said.
Cutting bureaucracy and speeding up justice
Kostis Hatzidakis said the government’s next priority was to make Greece an even more competitive and attractive investment destination.
In this context, he referred to further reductions in bureaucracy, speeding up the administration of justice with the aim of bringing Greece close to the European average by 2027, making use of EU funds for research and technology, and providing further support for the capital market.
“Building on the progress of recent years”
In closing, the deputy prime minister said international developments created both challenges and opportunities, which no country could fully seize by acting alone.
“That is why we must work with the Emirates, which we know to be a reliable partner, building on the progress made, particularly since 2022,” he said.
He added that the two countries had different strengths but shared the ambition to develop outward-looking economic activity and invest in the future.
“I am confident that in the near future our economic cooperation will be further strengthened for the benefit of both countries,” he concluded.