Hellenic Federation of Enterprises: Important business opportunities for Greek firms in Saudi Arabia
The new Greece-Saudi Arabia Business Council officially launched as part of the Foreign Ministry’s business mission in Riyadh.
Construction, pharmaceuticals, digital technologies, the supply chain, tourism and culture are among the sectors of the Greek economy for which significant business and investment opportunities arise in the Saudi Arabian market. The conditions for the food and beverage industry are also excellent, as Saudi Arabia imports most of its food products due to its geographical and climatic conditions. Similarly, there is a great need for water resources, waste and energy management services. These opportunities were highlighted during the Foreign Ministry’s business mission, which took place in Riyadh on March 12-14, with the support of the Hellenic Federation of Enterprises – SEV, the association said in a statement.
The mission was led by the Minister of Development and Investment, Mr. Adonis Georgiadis and the Deputy Minister for Economic Diplomacy and Extroversion, Mr. Costas Frangogiannis.
As part of the visit, the official “launch” of the newly established Business Council of Greece-Saudi Arabia took place, an initiative of the Confederation of Chambers of Saudi Arabia.
The Business Council is a tool to facilitate the economic cooperation of the two countries, as another indication of the dynamics that exist for the deepening of this economic cooperation.
The Saudi market has been for many years one of the leading markets in the Middle East for Greek products. It also contributes to the Greek economy through tourism and, mainly, through investments. Greece’s exports to Saudi Arabia increased by 105% in 2021 compared to 2020 and bilateral trade reached 1.3 billion euros.