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Saudi Arabia, Greece Discuss Qualitative Investment Opportunities

Athens hosted a series of meetings, including the Saudi-Greek Investment Forum, as part of efforts to develop bilateral economic relationship. (Asharq Al-Awsat)
Athens hosted a series of meetings, including the Saudi-Greek Investment Forum, as part of efforts to develop bilateral economic relationship. (Asharq Al-Awsat)
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Saudi Arabia, Greece Discuss Qualitative Investment Opportunities

Athens hosted a series of meetings, including the Saudi-Greek Investment Forum, as part of efforts to develop bilateral economic relationship. (Asharq Al-Awsat)
Athens hosted a series of meetings, including the Saudi-Greek Investment Forum, as part of efforts to develop bilateral economic relationship. (Asharq Al-Awsat)

In an effort to enhance bilateral trade and economic cooperation, the Saudi-Greek Investment Forum convened on Monday in Athens, in the presence of leaders and representatives of the two countries’ public and private sectors.

The forum was chaired by Saudi Investment Minister Eng. Khalid Al-Falih, Greek Minister of Development and Investment Adonis Georgiadis, and Kostas Fragogiannis Konstantinos, Greek Minister of Foreign Affairs for Economic Diplomacy Economic and Openness.

Al-Falih is heading a high-level delegation from the public and private sectors and businessmen on an official visit to Greece, from May 29 -31, with the aim of expanding strategic partnership and strengthening investment and trade relations.

On the sidelines of the visit, the Saudi minister met with Greek Prime Minister Kyriakos Mitsotakis and discussed with Vassilis Kikilias, Minister of Tourism, investment opportunities in the tourism sector.

Last year, the Federation of Saudi Chambers of Commerce and the Federation of Hellenic Enterprises signed a memorandum of understanding to establish a Saudi-Greek Business Council, in a step that reflects the two countries’ determination to enhance bilateral trade and increase the volume of trade and investment cooperation.

The Council seeks to open new qualitative areas for economic cooperation, facilitate continuous interaction between the business sectors of the two countries and remove the relevant challenges and obstacles.

It also works to exchange information on available markets and investment opportunities, enable partnerships, provide recommendations to the competent authorities to improve economic relations and encourage participation in exhibitions and forums.

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Riyadh and Tokyo to Launch Coordination Framework to Boost Cooperation

Saudi Ambassador to Japan Dr. Ghazi Binzagr. (Asharq Al-Awsat)
Saudi Ambassador to Japan Dr. Ghazi Binzagr. (Asharq Al-Awsat)
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Riyadh and Tokyo to Launch Coordination Framework to Boost Cooperation

Saudi Ambassador to Japan Dr. Ghazi Binzagr. (Asharq Al-Awsat)
Saudi Ambassador to Japan Dr. Ghazi Binzagr. (Asharq Al-Awsat)

Saudi Arabia and Japan are close to unveiling a higher partnership council that will be headed by the countries’ leaderships in line with efforts to build a partnership that bolsters the technical transformation and joint research in clean energy, communications and other areas, revealed Saudi Ambassador to Japan Dr. Ghazi Binzagr.

He told Asharq Al-Awsat that the two countries will soon open a new chapter in their sophisticated strategic partnership.

The new council will be chaired by Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and Japanese Prime Minister Shigeru Ishiba to push forward the Saudi-Japan Vision 2030, he added.

The council will elevate cooperation between the countries and pave the way for broader dialogue and consultations in various fields to bolster political, defense, economic, cultural and sports cooperation, he explained.

The two parties will work on critical technological partnerships that will focus on assessing and developing technologies to benefit from them, Binzagr said. They will also focus on the economy these technologies can create and in turn, the new jobs they will generate.

These jobs can be inside Saudi Arabia or abroad and provide employers with the opportunity to develop the sectors they are specialized in, he added.

Binzagr said Saudi Arabia and Japan will mark 70s years of relations in 2025, coinciding with the launch of Expo 2025 in Osaka in which the Kingdom will have a major presence.

Relations have been based on energy security and trade exchange with Japan’s need for oil. Now, according to Saudi Vision 2030, they can be based on renewable energy and the post-oil phase, remarked the ambassador.

Several opportunities are available in both countries in the cultural, sports and technical fields, he noted.

Both sides agree that improving clean energy and a sustainable environment cannot take place at the expense of a strong economy or quality of life, but through partnership between their countries to influence the global economy, he explained.

"For the next phase, we are keen on consolidating the concept of sustainable partnerships between the two countries in various fields so that this partnership can last for generations,” Binzagr stressed.

“I believe these old partnerships will last for decades and centuries to come,” he remarked.

Moreover, he noted that the oil sector was the cornerstone of the partnership and it will now shift to petrochemicals and the development of the petrochemical industry.