ATHENS, Greece / RankWire.AI / – During an official visit to Athens on Thursday, October 22, the UAE announced an expansion of its joint investment initiative with Greece by an additional €15 billion, nearly quadrupling the original program’s size. This move follows the initial launch in May 2022, which involved a €4 billion commitment. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, revealed the new plan on the sidelines of his visit.
As reported by the Abu Dhabi Media Office, the purpose of the increased investment is to bolster the long-term economic alliance between the two nations. The expanded partnership aims to enhance collaboration in sectors both governments view as crucial for strategic growth and development. The 2022 initiative has already facilitated notable transactions in energy and healthcare sectors, demonstrating how investment cooperation can add value for both economies. No specific timeline for the new commitment has been provided by officials.
In Athens, the Crown Prince met with Kyriakos Mitsotakis, Greece’s Prime Minister, at his office. Their discussions centered on strengthening cooperation in energy, infrastructure, healthcare, and advanced technology. Both leaders also exchanged views on regional and global issues, emphasizing the significance of security, peace, and stability. Earlier in the visit, Sheikh Khaled was greeted by Foreign Minister George Gerapetritis at Athens International Airport.
Trade forums generate deals exceeding €12.75 billion
The same day, the UAE-Greece Strategic Forum convened officials, business leaders, and chambers of commerce in Athens, resulting in agreements and partnerships valued at over €12.75 billion. These deals cover areas such as digital infrastructure, advanced technology, AI, clean energy, industry, transport, ports, healthcare, and food security. The agreements complement the €15 billion investment plan. The forum also featured investment-matching sessions and business networking events.
Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, commented that the combined commitments reflect increasing confidence between the two nations. He emphasized that the focus now shifts toward transforming this momentum into concrete projects. The forum was attended by Mitsotakis, Deputy Foreign Minister Haris Theoharis, and Dimitris Skalkos, chairman of Enterprise Greece. Panel discussions addressed topics like food security and collaborations in AI and emerging technologies.
Cooperation extends beyond mere financial investments
The UAE’s statement on the expansion highlights its confidence in Greece’s economic potential. It underscores Greece’s strategic geographic position as a bridge connecting European markets with regional and global markets. Both countries’ investment entities are expected to collaborate more closely on strategic initiatives. The initiative also seeks to promote innovation and facilitate the sharing of expertise in sectors that support sustainable development.
This development follows other major UAE investment initiatives in Europe this year, including a €40 billion investment package across Germany. The UAE has also expanded cooperation with Italy on trade and energy. The UAE described the Greek initiative as marking the beginning of a new phase of collaboration based on tangible achievements and a shared vision. It considers the expansion a key milestone in strengthening their partnership.