The visit to Athens yesterday by Sheikh Khaled bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, had a significant economic impact. His meetings with Kyriakos Mitsotakis were accompanied by major business deals, signalling a new chapter in the economic relations between the two countries.At the centre of attention were the 18 agreements and commercial partnerships announced by the United Arab Emirates, worth a total of €12.75 billion, as well as its intention to pursue an additional €15 billion in investment in Greece.
A key role in this effort was played by the 4th Greece-UAE Strategic Business Forum, attended by senior institutional representatives, investors and business executives from both countries.
Discussions focused on two areas with significant potential: food security and supply chains, as well as artificial intelligence and emerging technologies.
In the agri-food sector, the participation of companies such as LuLu Group, Elite Agro, Soya Mills / Hellenic Fine Oils and OB Streem highlighted the potential to connect Greek production with the Emirates’ commercial networks. Cooperation could extend to promoting Greek products and developing storage, transport and distribution infrastructure, boosting exports.
Meanwhile, artificial intelligence and digital infrastructure were the focus of the second thematic discussion, which included companies such as Presight, Open Innovation AI, DLR Greece and Hewlett Packard Enterprise. Investment opportunities in these sectors are taking on particular significance as technology has become a key arena for competition and the creation of new economic value.
Energy, infrastructure, transport and industry round out the range of opportunities, with both sides seeking broader cooperation that goes beyond individual business deals.
A practical tool
Also significant is the Memorandum of Cooperation between Enterprise Greece and the Abu Dhabi Chamber of Commerce and Industry. The agreement aims to facilitate trade and investment contacts, share information on new opportunities and strengthen networking between businesses and investors.
It provides, among other things, for business delegations, B2B meetings and joint information initiatives, with the aim of establishing more stable channels of communication between the two business communities. It is a practical tool that could help turn the contacts made at the forum into specific partnerships.
Meanwhile, the signing of an MoU between the National Development Fund, the Hellenic Development Bank of Investments (HDBI) and Mubadala Investment Company, an international investment organisation based in Abu Dhabi, creates new prospects for attracting international investment capital to Greece and opportunities to work with international investment organisations.
The agreement strengthens the role of the National Development Fund in mobilising private capital, cooperating with international investment organisations, making use of public assets and creating long-term value for the Greek economy.
“A few years ago, we set ourselves an ambitious target — at least, it seemed ambitious at the time — of attracting €4 billion in direct investment from the UAE to Greece. I am pleased to announce that we have already exceeded this target, and I would like to thank everyone who worked to achieve this ambitious goal,” Kyriakos Mitsotakis said, adding that “the landmark investments by Masdar and PureHealth demonstrate the depth of our economic ties.”
Yesterday’s meetings between the two sides confirmed that the United Arab Emirates is seeking to strengthen its economic presence in Greece, while Athens is looking for capital to support the country’s growth and transformation of its productive model.
The challenge now is to turn political will and business contacts into productive investment, new export opportunities, technology partnerships and jobs.