RIYADH: Saudi Arabia and Greece have partnered on critical areas such as renewable energy and telecommunication to bolster economic relations between the two nations, said a senior Greek government official.
“We are working with our Saudi counterparts in driving renewable energy sources and setting up a fiber optic cable network that will connect data from Southeast Asia to Central Europe,” Greek Deputy Minister for Economic Diplomacy and Openness Kostas Fragogiannis told Arab News at the sidelines of the Saudi-Greek Investment Forum held here on Sunday.
Both countries signed a memorandum of understanding on Sunday, paving way for innovations in green energy and the inception of a cross-continent data link.
“We are standing a couple of weeks behind signing the (data link) agreement,” the minister said while adding that he aimed to capitalize on a long economic relationship that had slumped in recent years.
“The trade flow of €1.2 billion and foreign direct investment between Greece and Saudi Arabia does not reflect the level that it should be. So, we are here to deliver an action plan that is specific and focused,” he added.
The action plan will focus on key areas such as tourism, shipping, and investments in startups in innovations from green energy to renewable energy sources such as green and blue hydrogen, “and to everything that can take us forward to a better future for the two countries.”
