UAE and Greece in talks to enhance partnership

The UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of the Abu Dhabi National Oil Company (ADNOC), Dr. Sultan bin Ahmed Al Jaber, visited Greece as the two countries enhance their comprehensive partnership. 

The meeting also included a review of progress under the UAE-Greece Joint Investment Fund, which was announced in May 2022 with a total value of €4 billion.

Dr. Sultan Al Jaber met with Prime Minister Kyriakos Mitsotakis and conveyed the greetings and best wishes of the UAE leadership to the government and people of Greece. He reaffirmed the UAE’s commitment to strengthening bilateral cooperation and expanding it to new strategic areas of mutual interest.

Dr. Al Jaber also met with Kostis Hatzidakis, Deputy Prime Minister of Greece. The two sides discussed the ongoing implementation of the Comprehensive Strategic Partnership, including a number of issues of mutual interest. They also explored ways to deepen economic cooperation, expand investment, and advance ongoing joint projects.

Dr. Al Jaber also met with Nikos Dendias, Minister for National Defence, to explore opportunities for enhanced cooperation in advanced industries and manufacturing. The discussions covered potential partnerships in defence-related technologies and platforms, as well as the exchange of expertise and best practices.

An announcement was also made during the visit confirmed the two countries’ agreement to continue implementing the existing UAE-Greece double taxation agreement, underscoring their shared commitment to a stable investment climate and deeper economic cooperation.

The visit also featured a dedicated strategic dialogue titled “Forging the Next Chapter of Economic Partnership”, attended by representatives from UAE and Greek public and private sector entities. The session highlighted opportunities for collaboration across key sectors, including energy, renewable energy, industry, advanced technology, infrastructure, and data centres.

Dr. Sultan Al Jaber also visited the headquarters of TERNA Energy, recently acquired by Abu Dhabi Future Energy Company (Masdar), as part of his programme in Athens. He met with Georgios Peristeris, Executive Chairman of TERNA Energy, and senior executives to review the company’s strategic plans and its efforts to expand renewable energy projects across Southeastern and Central Europe. The visit also included a tour of key facilities to observe the technologies and operational systems supporting TERNA’s clean energy portfolio.

The UAE delegation included Dr. Ali Al Dhaheri, UAE Ambassador to Greece; Badr Jafar, Special Envoy of the Minister of Foreign Affairs for Business and Philanthropy; Hamad Al Hammadi, Executive Director at ADQ; Mohamed Al Ramahi, CEO of Masdar; Meera Al Suwaidi, Head of Sovereign Partnerships at Mubadala; Thomas Pramotedham, CEO of Presight; Mohamed Zafar, CEO of 2PointZero; and Farhan Malik, Founder and Managing Director of PureHealth, in addition to representatives from several other UAE companies.

The total value of non-oil trade between the UAE and Greece reached AED 2.22 billion in 2024, representing a 6 percent year-on-year increase driven by a 26.3 percent rise in imports. In the first quarter of 2025, trade between the two countries grew by over 40 percent compared to the same period the previous year, supported by a more than 140 percent increase in exports, a 46 percent increase in re-exports, and a 26 percent rise in imports.

Over the past five years, non-oil trade between the UAE and Greece has grown by 80 percent, with significant increases in exports (72 percent) and imports (84 percent). This sustained growth, at an average annual rate of 16 percent, underscores the strength and long-term potential of bilateral trade relations.