UAE And Greece Discuss Advancements In Comprehensive Strategic Partnership And Joint Investment Fund Progress

Dr. Sultan bin Ahmed Al Jaber, the UAE's Minister of Industry and Advanced Technology and CEO of ADNOC, recently visited Greece. He was accompanied by senior officials and representatives from prominent UAE companies. The visit aimed to enhance the Comprehensive Strategic Partnership between the UAE and Greece, established in November 2020, and build on the outcomes of Greek Prime Minister Kyriakos Mitsotakis’s visit to the UAE in February 2025.

The delegation included key figures from ADNOC, Masdar, ADQ, Mubadala Investment Company, EDGE Group, PureHealth, MGX, 2PointZero, and Presight. During the visit, Dr. Al Jaber met with Greek Prime Minister Kyriakos Mitsotakis to convey greetings from the UAE leadership and reaffirm the UAE's commitment to strengthening bilateral cooperation. They discussed expanding collaboration into new strategic areas of mutual interest.

Dr. Al Jaber also held discussions with Kostis Hatzidakis, Greece's Deputy Prime Minister. Their talks focused on implementing the Comprehensive Strategic Partnership and exploring ways to deepen economic cooperation. They discussed expanding investments and advancing ongoing joint projects between the two nations.

In addition to these meetings, Dr. Al Jaber engaged with Nikos Dendias, Greece's Minister for National Defence. Their discussions centered on potential partnerships in advanced industries and manufacturing. They explored opportunities for collaboration in defence-related technologies and platforms while exchanging expertise and best practices.

The visit included a review of progress under the UAE-Greece Joint Investment Fund, valued at €4 billion since its announcement in May 2022. An announcement confirmed both countries' commitment to continue implementing their double taxation agreement. This agreement underscores their shared dedication to a stable investment climate and deeper economic cooperation.

A strategic dialogue titled "Forging the Next Chapter of Economic Partnership" took place during the visit. Representatives from both UAE and Greek public and private sectors attended this session. It highlighted collaboration opportunities across key sectors such as energy, renewable energy, industry, advanced technology, infrastructure, and data centres.

Renewable Energy Initiatives

Dr. Al Jaber visited TERNA Energy’s headquarters in Athens as part of his itinerary. Abu Dhabi Future Energy Company (Masdar) recently acquired TERNA Energy. He met with Georgios Peristeris, Executive Chairman of TERNA Energy, along with senior executives to discuss strategic plans for expanding renewable energy projects across Southeastern and Central Europe.

The tour included visits to key facilities where Dr. Al Jaber observed technologies supporting TERNA’s clean energy portfolio. This engagement reflects ongoing efforts by Masdar to enhance its renewable energy footprint in Europe.

Trade Growth Between Nations

The total value of non-oil trade between the UAE and Greece reached AED 2.22 billion in 2024—a 6 percent increase year-on-year driven by a 26.3 percent rise in imports alone. In early 2025 alone—trade grew over 40 percent compared to last year’s first quarter—thanks largely due more than doubling exports alongside significant increases re-exports & imports alike.

Over five years non-oil trade between these nations has grown by an impressive rate—80 percent overall—with notable rises seen within exports (72%) & imports (84%). This sustained growth averaging annually around sixteen percent highlights strength long-term potential bilateral trade relations hold moving forward together collaboratively towards future success stories yet untold today but certainly possible tomorrow given current trajectory already underway now firmly established here today too!

With inputs from WAM