Fragogiannis: Investments collaboration agreement between Greece and Saudi Arabia nearing completion

Speaking at the Greek-Saudi Investment Forum in Riyadh, where he is accompanied by delegations of ministers and businesspeople, Fragogiannis also underlined the two countries' joint commitment to stability and peace in the area. "It is self-evident that both countries are always committed to international law, including the UN Convention on the Law of the Sea (UNCLOS), and that both continuously condemn every terrorist act," the Greek minister said.

Fragogiannis, who is following up on visit to the country by Prime Minister Kyriakos Mitsotakis in October 2021, said that bilateral relations have improved in the last 2.5 years, and that significant work has resulted. This includes the memorandum of cooparation between the state exports agency Enterprise Greece and the Saudi National Companies Promotion Program, which was signed in September in Athens, and the founding of the investment council between the two countries. "What we are preparing now is the completion of the bilateral agreement promoting investments," he said.

The deputy minister said the ties of friendship and collaboration are not limited to politics, and mentioned an earlier visit where he was warmly received by Crown Prince Mohammed bin Salman bin Abdulaziz al Saud, who also thanked Greece for the Patriot missiles. Addressing Saudi Investment Minister Khalid bin Abdulaziz Al-Falih, he reiterated that during that meeting both sides had identified the sectors "which require our attention and where more work needs to be carried out."

Sectors of interest for collaboration that he mentioned include renewable energy sources, logistics, maritime transport, tourism, culture, construction, agriculture, and shipping. "With us we have dozens of Greek businessmen, very successful ones, who are seeking further opportunities to expand collaboration," Fragogiannis said, adding that "in the next two days they will meet with Saudi colleagues who share their vision."

Fragogiannis spoke of Saturday's visit by the government and business delegation to the antiquities site of Al Ula, which was fascinating and well organized. Addressing the Saudi investment minister, he noted that "your ambition to turn these treasures into an international tourism destination in the framework of 'Vision 2030' will come to fruition soon."

Commenting on the situation in Ukraine during the last two weeks, Fragogiannis underlined that "during turbulent times it is even more imperative to keep our economies vibrant."