Greece targets new Saudi trade deals in Riyadh talks

Notis Mitarachi, vice minister for development and competitiveness of Greece, will be visiting Riyadh on Monday and Tuesday (Nov. 24-25) for meetings with high government officials to discuss the potential of bilateral collaboration in the fields of investments and exports.
“Talks will be held on a win-win basis, which will mutually benefit both countries,” says a press release from the Greek Embassy in Riyadh.
The embassy statement also highlighted the excellent level of political relations between Saudi Arabia and Greece.
After six straight years of recession, Greece’s economy is finally recovering with expected growth of 0.6 percent in Q4 2014 and 2.9 percent in 2015.
“Greece is again becoming a safe destination for investments, both domestic and foreign, having attracted 37.6 billion euros in announced/realized investments since 2012,” said the release,
These include recent foreign-backed mega-deals such as the 6-billion-euro privatization and development of the former Hellinikon airport, the 1.5-billion-euro Trans-Adriatic Pipeline (TAP), and 1.3-billion-euro of the 2.9-billion recapitalization of EFG-Eurobank.
As a result, Greece is now back on the world map for both inward and outward investments.
Furthermore, despite the crisis, Greek exports have increased at an average annual rate of 11.7 percent over the period 2009-2013, proving that Greek products are desirable and sought after internationally.
“Finally, in the spirit of strengthening ties at the personal level, Greece offers permanent residency to non-EU nationals, and their families, who purchase real estate,” the release added.