Minister Of Industry Bandar Alkhorayef Begins Official Visit To Hellenic Republic To Strengthen Economic Ties

Minister of Industry and Mineral Resources Bandar Alkhorayef has embarked on an official visit to Greece, which will last until October 7. This visit aims to enhance the strategic economic partnership between Saudi Arabia and Greece. The itinerary includes high-level meetings with Greek officials to discuss economic collaboration and investment opportunities.

A significant part of the visit involves discussions with Dr. Takis Theodorikakos, Greece's Minister of Development. They will explore frameworks for economic collaboration and investment. Additionally, Minister Alkhorayef will meet with Stavros Papastavrou, Minister of the Environment and Energy, to discuss cooperation in mining and mineral processing sectors.

The agenda also includes a tour of the Elefsis Shipyards. This visit aims to identify potential areas for collaboration in shipbuilding and facilitate expertise exchange between the two nations. Such initiatives are crucial for fostering industrial integration and expanding market access.

On October 7, a Business Roundtable will be co-chaired by Minister Alkhorayef and the Greek Minister of Development. This event will bring together key figures from both countries' industrial and mining sectors to explore partnership opportunities. The focus will be on identifying joint ventures that can drive mutual growth.

The visit builds on previous engagements, including Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud's 2022 visit to Greece. That visit led to the creation of the Saudi-Greek Strategic Partnership Council. The council aims to translate strategic visions into tangible industrial and trade partnerships.

Focus on Non-Oil Trade

A major topic during these discussions is the potential for growth in non-oil trade, which reached $485.2 million in 2024. Promoting Saudi exports to Greece is a key objective. Both nations are keen on enhancing trade in sectors like food processing, downstream chemicals, and metals industries.

Saudi Arabia is a significant exporter of petrochemical products to Greece. These meetings provide a platform for strengthening knowledge exchange and facilitating advanced technology transfer across strategic sectors.

Strategic Partnership Council's Role

The Saudi-Greek Strategic Partnership Council has been instrumental in driving bilateral growth through its institutional mechanisms. These include the Investment and Trade Committee, Culture Committee, and Saudi-Greek Business Council. These bodies have facilitated steady progress in various sectors.

Minister Alkhorayef's visit represents a step forward in advancing industrial integration between Saudi Arabia and Greece. It aligns with Saudi Vision 2030 objectives by reinforcing Saudi Arabia's position as Greece’s second-largest trading partner in the region.

This visit underscores the importance of expanding market access while promoting mutual interests in key industries such as aluminum extraction and processing where both countries excel.

With inputs from SPA