Saudi-Greek Relations: A Model of Strong Ties and Expanding Cooperation

The ties between the Kingdom of Saudi Arabia and the Hellenic Republic stand as a model of fruitful and sustainable collaboration, founded on mutual respect and shared values.
 Over the years, these relations have fostered significant growth across multiple sectors, reflecting the commitment of both nations to strengthen their political, economic, cultural, and various other partnerships. Both countries are dedicated to advancing their collaboration in alignment with the aspirations of their peoples, contributing to the achievement of their mutual interests on both regional and international levels.
 To further strengthen and advance these relations, Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud welcomed President of the Hellenic Republic Prokopios Pavlopoulos in February 2017, during which they held discussions to review bilateral ties and explore opportunities for enhancing collaboration across multiple sectors.
 The meeting culminated in signing two memoranda of understanding to enhance cooperation in satellite technology and its applications and a draft memorandum of understanding for scientific and technical collaboration.
 Furthermore, 2021 marked a pivotal moment in Saudi-Greek relations, underscored by a series of high-level visits between the two nations. In April, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, welcomed Greek Foreign Minister Nikolaos Dendias in Jeddah. During their meeting, they discussed the longstanding ties between the two countries and explored further ways to enhance cooperation across various sectors.
 In October, HRH the Crown Prince received Greek Prime Minister Kyriakos Mitsotakis in Riyadh. They underscored the strong relations between the two nations, discussed opportunities to enhance cooperation across various sectors further, and addressed regional and international issues of mutual concern, focusing on ways to bolster security and stability in the region.
 The two sides agreed to explore the creation of a joint investment fund, collaborate on enhancing the capabilities, readiness, and skills of their military forces, work towards organizing Saudi-Greek investment forums, and foster greater cultural exchange between the two countries.
 The Kingdom expressed its support for the Hellenic Republic's initiative to protect cultural heritage from the impacts of climate change. The two countries also agreed on the importance of enhancing tourism cooperation, working towards launching initiatives to develop tourism, exploring each country's rich tourism resources, enhancing communication between their citizens, and providing facilitation to achieve these goals.
 During his visit to Saudi Arabia, the Greek prime minister participated in the Middle East Green Initiative Summit, commending its positive role in achieving environmental stability and balancing and mitigating the impacts of climate change for the region's prosperity and well-being. He expressed gratitude to the Kingdom for its significant efforts, constructive initiatives, and valuable work in the environmental and climate change fields. He also attended the global forum of the Public Investment Fund in its fifth edition, where discussions focused on global economic trends and the future of the international investment environment.
 In line with the Saudi leadership's commitment to fostering communication and strengthening relations between the Kingdom and friendly nations across all fields, the Custodian of the Two Holy Mosques directed HRH the Crown Prince to visit Greece in July 2022 to discuss bilateral relations, explore ways to enhance them in various fields, and address shared concerns.
 Greece welcomed the launch of the Kingdom's two initiatives, the "Saudi Green Initiative" and the "Middle East Green Initiative," and expressed its support for the Kingdom's climate change and emissions reduction efforts. The Kingdom also welcomed Greece's ambitious green agenda, particularly the "GR-Eco Islands" Initiative.
 HRH the Crown Prince appreciated the support of the Hellenic Republic's government for Riyadh's bid to host Expo 2030. Saudi Arabia reiterated its support for Greece's candidacy for a non-permanent United Nations Security Council membership for the 2025-2026 term. Both sides emphasized the importance of multilateral efforts in enhancing international peace and security and expressed their readiness to continue supporting each other's candidacies in international forums.
 Saudi Arabia and Greece enjoy robust economic and trade relations, with the Kingdom being Greece's second-largest trading partner in the region. In 2023, the bilateral trade volume reached $3.713 billion, with Saudi exports to Greece amounting to $998 million. Of this, $762 million were oil exports, while $236 million were non-oil exports. Saudi imports from Greece were valued at $2.715 billion.
 The Saudi Industrial Development Fund has contributed to financing three joint projects with Greece, with a total net value of SAR80.8 million. Also, in June 2024, the Saudi Export-Import Bank signed a memorandum of understanding with the Export Credit Greece (ECG) agency to boost cooperation in export credit, exchange information, and work jointly on potential opportunities to enhance bilateral trade.
 In July 2022, Athens hosted the Saudi-Greek Investment Forum to support investment and trade relations and expand strategic partnerships. The event saw the signing of 21 investment and cooperation agreements across various sectors.
 Also, in July 2022, the two countries' private sectors announced a strategic partnership to build a data cable project connecting East and West. This initiative ensures the seamless global supply of digital data at a time when global data traffic is growing by more than 30%.
 The project aims to position both nations as eastern digital hubs for Europe, providing access to the Middle East, Africa, and Asia. The East to Med Corridor (EMC) submarine cable forms part of Greece's strategic digital transformation plan and aligns with Saudi Arabia's ambitions to establish itself as a regional and global digital hub. The Kingdom leverages its advanced digital infrastructure, skilled workforce, institutions, and strategic geographic location to connect East and West digitally.
 Believing in tourism as a driver of economic and developmental growth, the Saudi Ministry of Tourism and its Greek counterpart signed an action plan in May 2021 to enhance cooperation. In June 2021, an agreement was signed to collaborate on sustainable coastal and maritime tourism. Both countries are committed to the sustainable development of their coastal and marine tourism sectors.
 As part of their ongoing cooperation, Saudi Arabia has provided developmental and humanitarian aid to Greece, focusing on education and health through six projects worth over $15.1 million, according to the Saudi Aid Platform.
 The prime minister of the Hellenic Republic's visit to Saudi Arabia today underscores Greece's appreciation of HRH the Crown Prince and the Kingdom's political and economic status. It also highlights Saudi Arabia's pivotal role at the regional and international levels and the commitment of world leaders to consult with the Kingdom's leadership on global and regional developments.