The Minister of Industry and Advanced Technology and Chairman of the Conference of the Parties (COP28), Dr. Sultan Ahmed Al Jaber, made a working visit to Greece at the head of a delegation that included representatives of government agencies and private sector companies, during which he held a number of bilateral meetings with the Prime Minister of Greece, Kyriakos Mitsotakis, and the Minister Foreign Affairs, Giorgos Grapetritis, and Development Minister, Kostas Skrikas.
The two sides discussed ways of cooperation within the framework of the comprehensive strategic partnership that was signed during the visit of the Greek Prime Minister to the Emirates in November 2020. The latest developments in the joint investment fund worth four billion euros ($4.2 billion), which was announced in May 2022, were also reviewed in the presence of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, and the Greek Prime Minister, Kyriakos Mitsotakis. Since its launch, the Fund has contributed to supporting the growth of the main sectors of the Greek economy and facilitating investment operations in the relevant markets.
The Fund’s Joint Steering Committee held a meeting during the visit to discuss promising investment opportunities, in an effort to build more strategic partnerships and achieve sustainable returns in the long term that benefit both countries.
The two sides also witnessed the signing of a memorandum of understanding between the Mubadala Investment Company and the Greek Development Bank for Investments, to expand the existing partnership between them in the field of investment with a value of 200 million euros. This memorandum comes as a continuation of the partnership that was established in 2018 with a value of 400 million euros.
During the visit, an agreement was also signed to implement the “Green Islands” initiative projects in Greece between Masdar and the Greek Ministry of Environment and Energy, to accelerate the transformation of these islands into a green economic model, and to rely on clean energy, digital innovation, and sustainable mobility.
Within the framework of the “Green Islands” initiative, “Masdar” will develop infrastructure projects on some of the islands, transfer its expertise and best practices in the field of energy efficiency, and support Greece’s efforts in achieving the initiative’s goals of increasing the use of renewable energy in the transportation, agriculture, tourism and infrastructure sectors, and developing Eco-friendly model, sustainable water and waste management.
It is noteworthy that the volume of non-oil trade exchange between the two countries in 2022 amounted to about 1.97 billion dirhams, exceeding the levels of the “Covid-19” pandemic by more than 60%, while the volume of non-oil trade exchange between the two countries achieved a growth of about 6.2% during the first nine months of 2023. , compared to the same period in 2022, recording about 1.6 billion dirhams, driven by the growth of re-export trade, which rose by about 58%.
2024-03-11 00:05:00
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