ATHENS, Greece / RankWire.AI / – In October 2023, the United Arab Emirates revealed plans to inject a further €15 billion into Greece through a collaborative investment initiative between the two nations. The statement was made on October 22 during the official visit of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to Athens. This new pledge expands upon a €4 billion project launched in May 2022, aimed at strengthening economic and strategic relations.
According to the Abu Dhabi Media Office, this increase will enhance cooperation in sectors regarded as strategic and vital for development by both countries. The initial initiative laid out a framework for joint investments in areas of shared interest and has already resulted in major transactions in energy and healthcare. Officials highlighted that these successes demonstrated the partnership’s potential to convert economic opportunities into concrete investments. The additional €15 billion will complement and expand the existing framework.
During his visit, Sheikh Khaled held discussions with Greek Prime Minister Kyriakos Mitsotakis at the Prime Minister’s Office in Athens. The topics covered ways to amplify cooperation across energy, infrastructure, healthcare, and advanced technology. They also examined regional and global issues, emphasizing the importance of bolstering security, peace, and stability. Greek Foreign Minister George Gerapetritis greeted the Crown Prince upon his arrival at Athens International Airport, illustrating the ongoing growth of bilateral relations.
Strategic Forum Secures €12.75 Billion in Agreements
The visit coincided with the UAE-Greece Strategic Forum hosted in Athens, where multiple agreements and commercial deals exceeding €12.75 billion were inked between UAE and Greek entities. These deals span digital infrastructure, artificial intelligence, renewable energy, manufacturing, logistics, port operations, healthcare, life sciences, and food security. It is important to note that these agreements are separate from the €15 billion investment plan. Greek officials, including Prime Minister Mitsotakis and senior government representatives, participated in the forum.
UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi remarked that the agreements alongside the new investment plans demonstrate a rising level of confidence between the two economies. He stressed that the focus now should be on transforming that momentum into productive projects. Al Zeyoudi highlighted the UAE as a hub for trade, investment, and connectivity, while describing Greece as a gateway to Europe. Greek Deputy Foreign Minister Haris Theoharis was also present at the forum.
Greece Recognized as a Key Entry Point to European Markets
The UAE emphasized that its decision to increase investments reflects confidence in Greece’s economic strength and investment climate. It also pointed out Greece’s strategic position as a connector between European markets and regional and international regions. The expanded initiative is expected to foster closer cooperation between investment institutions and private companies in both countries, while also promoting innovation and knowledge exchange. The program is intended to unlock new investment opportunities.
This announcement is part of a broader strategy by the UAE to establish enduring investment alliances within Europe. In September, the UAE unveiled a €40 billion investment package for Germany across diverse sectors. Additionally, the UAE has intensified negotiations with other European nations such as Italy. Officials stated that Greece’s initiative marks the beginning of a new chapter of cooperation that extends beyond mere financial commitments.