A roundtable meeting was held between Saudi Arabia and Greece in the capital city of Riyadh. The meeting was chaired by the Minister of Commerce and Chairman of the General Authority for Trade, Dr. Majid bin Abdullah Al-Qasabi, and the Deputy Minister of Foreign Affairs for Diplomatic and Economic Affairs of Greece, Dr. Tasos Hatzivasilis. The aim of the meeting was to enhance the trade and investment partnership between the two countries, as well as to explore investment opportunities in the construction sector in Saudi Arabia.
The meeting also focused on discussing ways to overcome common challenges and strengthen cooperation in the areas of trade and investment to enhance economic relations between the two sides. Various government and private entities from both Saudi Arabia and Greece participated in the meeting, including the Ministry of Investment, the Saudi Chambers of Commerce, the Public Investment Fund, NEOM Company, Qiddiya Investment Company, Red Sea International Company, King Salman International Airport, Diriyah Company, Marbella Company, Amlak Development Company, Roshan Group, Sudah Development, and several Greek companies.
It is worth noting that the volume of trade between the two countries reached approximately $2 billion by the third quarter of 2024. Saudi Arabia primarily exported metal products, plastics, and their derivatives, while Greece mainly imported metal products and iron or steel products. The trade volume between the two countries experienced a growth rate of 18.3% during the period from 2019 to 2023. This signifies a positive trend in their trade relations.
Overall, the roundtable meeting between Saudi Arabia and Greece aimed to strengthen their commercial and investment ties, explore opportunities for collaboration in the construction sector, and address common challenges to enhance economic relations between the two countries. The participation of various governmental and private entities from both sides underscores the importance of fostering strong partnerships and maximizing the potential for mutual growth and development. The positive growth in trade volume between Saudi Arabia and Greece reflects the increasing interest and opportunities for collaboration in various sectors, paving the way for further economic cooperation in the future.
