UAE and Greece weigh expanding $4bn investment pact

A plan to widen a $4 billion joint investment initiative between the UAE and Greece was set out on Thursday during high-level talks in Athens, as Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, met Greek Prime Minister Kyriakos Mitsotakis at the Prime Minister’s Office.

The decision, announced as part of Sheikh Khaled’s working visit to Greece, was described by the two leaders as underlining their shared commitment to advance robust economic ties between the two countries.

The discussions centred on how to bolster collaboration across a range of key sectors, including energy, infrastructure, health care and advanced technology. The two sides reviewed ways to boost co-operation in key and future-focused sectors and to encourage partnerships between Emirati and Greek institutions and companies.

Sheikh Khaled emphasised the UAE’s desire to strengthen long-standing relations with Greece in support of the aspirations of both nations. He highlighted the successes of the investment initiative, which has provided a framework for the completion of a number of key projects. According to a report by the Abu Dhabi Media Office, he said the initiative had demonstrated the ability of the allies to translate investment opportunities into transformative projects with tangible economic impact.

The talks also touched on matters of state beyond economics. Sheikh Khaled and Mr Mitsotakis reflected on regional and international developments, stressing the importance of reinforcing security, peace and stability.

The visit carries particular weight in diplomatic terms because the two allies are marking 50 years since diplomatic ties were formally established. UAE-Greece relations have expanded greatly in the decades since, underpinned by a comprehensive strategic partnership encompassing vital sectors such as the economy, investment, energy and technology.

The machinery of that relationship has been active at the highest level throughout the year. President Sheikh Mohamed has held a series of phone calls with Mr Mitsotakis in a further demonstration of the flourishing friendship between the countries. In May, Sheikh Mohamed hosted the Greek prime minister for high-level talks in Abu Dhabi, centred on co-operation across the economic, investment, technology, artificial intelligence, renewable energy, sustainability, infrastructure and cultural sectors.

The protocol surrounding the visit reflected its official character. Sheikh Khaled was greeted on arrival at Athens International Airport by George Gerapetritis, the Greek Minister of Foreign Affairs, according to the state news agency Wam, which reported the arrival early on Thursday.

The Crown Prince is accompanied by a high-level delegation of senior ministers, several of whom hold portfolios directly relevant to the investment and trade agenda under discussion. It includes Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and managing director and group chief executive of Adnoc; Reem Al Hashimy, Minister of State for International Co-operation; Dr Thani Al Zeyoudi, Minister of Foreign Trade; and Mohamed Alsuwaidi, Minister of Investment.

The composition of that delegation, spanning industry, foreign trade, investment and international co-operation, points to the breadth of the agenda the two governments are pursuing as they seek to build on the existing $4 billion framework. With the initiative now set for expansion, the Athens talks served as both a marker of five decades of formal diplomatic relations and a statement of intent about the direction of the partnership in the years ahead, framed by the two leaders as a shared commitment to deeper economic integration and closer institutional ties.