CHAIRMAN: DR. KHALID BIN THANI AL THANI
EDITOR-IN-CHIEF: PROF. KHALID MUBARAK AL-SHAFI

Qatar / Government

Qatar-Greece relations: Fruitful cooperation, promising investments

Published: 29 May 2024 - 08:11 am | Last Updated: 29 May 2024 - 08:13 am
Peninsula

QNA

The visit of the Amir H H Sheikh Tamim bin Hamad Al-Thani to the Hellenic Republic is of a new dimension, in light of the steady development of relations between the State of Qatar and the Hellenic Republic, the common aspirations of the two countries towards close cooperation and a solid partnership, and the mutual aspiration of the leaders of the two countries to expand development paths and diversify cooperation in all fields, especially since the two countries are witnessing economic growth and great potential for developing investments, especially in the fields of energy, trade, transportation, culture, education, tourism and sports. The visit also represents a great opportunity to exchange opinions on recent developments in regional and international stances.

On Feb. 24, H H the Amir met with Prime Minister of the Hellenic Republic H E Kyriakos Mitsotakis in his office at Lusail Palace. During the meeting, they discussed political and economic bilateral relations between the two countries and exchanged views on the most prominent regional and international issues, especially developments in the Gaza Strip and the occupied Palestinian territories.

The visit of Prime Minister of the Hellenic Republic H E Kyriakos Mitsotakis to Doha was the second following his first visit on Aug. 22, 2022, where he met with H H the Amir at the Amiri Diwan, in an official talks session to discuss aspects of developing joint coordination, especially in areas of economy and investment, trade and transportation, energy and culture, education, tourism and sports, in addition to exchanging views on regional and international issues.

Official relations between the two countries go back to 2007, when the two countries’ embassies were opened in the capitals of Athens and Doha, and the exchange of official visits began at the highest levels between senior officials in the two countries. H E Former President of the Hellenic Republic Karolos Papoulias visited Doha in 2006, while the Father H H Amir Sheikh Hamad bin Khalifa Al-Thani visited Athens in 2007. Bilateral relations continued to develop with the signing of numerous agreements and memoranda of understanding in the areas of trade, media, air transport, military cooperation, tourism, culture, energy, investments, liquefied natural gas (LNG), and participation in projects in the two countries.

Since the convening of the first session of the Arab-Hellenic Economic Forum on Sep. 14, 2006, the Qatar Businessmen Association has participated in the first edition in Athens under the slogan “Historic Relations - New Horizons for Cooperation,” in the context of promoting and developing cooperation relations between Greece and the Arab countries, and in celebration of the silver jubilee of the establishment of the Chamber of Commerce.

In 2008, a Qatari-Greek agreement was signed to avoid double taxation. The two countries also have an agreement for economic and technical cooperation, which was ratified by the State of Qatar on Sep. 15, 2009. Agreements and memoranda of understanding were also signed in May 2010 to amend some provisions of the air transport agreement, and to exchange news between the official agencies of the two countries, in addition to a memorandum of understanding in the field of tourism cooperation and the energy sector, in light of the State of Qatar’s openness to projects in the field of energy and its industries, and the contribution of Greek companies to Qatari construction works.

In the framework of strengthening cooperation between the two countries, the State of Qatar participated in two editions of the “EU-Arab World Summit” in 2016 and 2017, which was held in Athens; to support partnership, strengthen cooperation in various fields, and enhance economic relations between the European Union and the Arab countries.

Qatar-Greece Business Council, was established in 2015 as a platform for dialogue between business leaders, decision-makers in government agencies, and those concerned with strengthening bilateral relations between the two countries.

During the meeting that saw the attendance of economic officials from both countries, Chairman of Qatar Chamber Sheikh Khalifa bin Jassim bin Mohammed Al-Thani pointed out that the volume of trade exchange between the two countries, which is estimated at around USD 100 million, is not commensurate with the available capabilities and ambitions of the two friendly countries, but there is a common interest in continuing to develop the path of bilateral relations and advancing them to a broader horizon, especially since there are promising Qatari investments in Greece, in the energy, tourism, hospitality, and real estate sectors.

On May 2, 2019, H E Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani, who was the Deputy Prime Minister and Minister of Foreign Affairs at that time, inaugurated the Qatar-Greece Business Forum. His Excellency stressed Qatars commitment to invest in Greece, whether by the government or the private sector, expressing hope of enhancing bilateral cooperation in the future as Qatar continues with the bid to diversify its economy in line with Qatar National Vision 2030.

In turn, QC Chairman Sheikh Khalifa noted, during the forum’s sessions, that there are joint projects, 8 Greek companies, and around 56 Qatari-Greek companies operating in the Qatari market in several sectors, such as trading, contracting, engineering, industrial consultancies, cargo, marine services, and decoration.

The developed relations between the two countries include an agreement between the governments of the State of Qatar and the Hellenic Republic regarding visa exemption for holders of diplomatic, service, or special passports, issued on May 2, 2019, and ratified by the State of Qatar on March 2, 2020.

The most recent Qatari participation in the Arab-Hellenic Economic Forum was on Oct. 27, 2022, through the Qatar Chamber under the chairmanship of First Vice President of Qatar Chamber Mohammed bin Ahmed bin Twar Al Kuwari.

In January 2017, former Greek Minister of Defense Panos Kammenos, made an official visit to Doha, accompanied by representatives of Greek defense industries, and held talks on defense cooperation between the two countries. Kammenos also made a new visit to Doha to participate in the Doha International Maritime Defence Exhibition and Conference (DIMDEX).

Also in 2017, HE former Greek Minister of State for Foreign Affairs George Katrougalos met with Minister of State for Foreign Affairs H E Sultan bin Saad Al Muraikhi in Doha in May and in Athens in November. In May 2017, Deputy Minister of Agricultural Development and Foodstuffs of the Hellenic Republic Vassilis Kokalis visited Doha and discussed with Qatari officials ways of bilateral cooperation in agriculture and food industries.

Greece, under the current Prime Minister H E Kyriakos Mitsotakis, has regained its strength and achieved a growth rate of 8.3 percent in 2021 and 5.9 percent in 2022. Mitsotakis succeeded in easing the burden of taxes imposed by the European rescue plan following the aftermath of COVID-19, which deprived Athens of tourism revenues, one of its main economic pillars.

Government statistics show that Greece has attracted increasing investments in recent years, with foreign direct investment reaching its highest level in 20 years in 2021, while total fixed capital formation increased by 12.7 percent during the first three months of 2023.

The government says it is working on building a floating unit to convert liquefied natural gas into its natural state off the coastal city of Alexandroupoli, with plans to build other units nearby. It is keen for Qatari investments interested in the energy and liquefied natural gas sector, providing them with opportunities to participate in major infrastructure projects, data storage and transportation, digital economy, renewable energy, tourism, and real estate.

Greece, located in southeastern Europe, has a population of approximately 10.75 million people, according to the 2019 census, and occupies a strategic location at the crossroads between Europe, Asia, and Africa. It is located on the southern tip of the Balkan Peninsula and has the longest coastline in the Mediterranean basin and 11th in the world, and includes a large number of islands, 227 of which are inhabited.

The capital, Athens, has a unique heritage and cultural value in Greece, reflecting the country’s rich historical legacy with 18 sites in the city listed on the UNESCO World Heritage List. It is considered the cradle of Western civilization, and the first century AD saw the establishment of the Greek Orthodox Church, which shaped modern Greek identity. The modern state of Greece emerged in 1830 after the War of Independence.