Qatar-Greece Relations: Strengthening Ties and Exploring Investment Opportunities

Qatar, 30 May, 2024 : HH the Amir Sheikh Tamim bin Hamad Al-Thani’s visit to the Hellenic Republic marks a significant step in the evolving relationship between Qatar and Greece. Both nations aim to enhance cooperation across various sectors, including energy, trade, transportation, culture, education, tourism, and sports, reflecting their mutual economic growth and potential for increased investments.

On February 24, HH the Amir met with Greek Prime Minister Kyriakos Mitsotakis at Lusail Palace. They discussed bilateral political and economic relations and exchanged views on regional and international issues, particularly concerning the Gaza Strip and Palestinian territories. This visit follows Mitsotakis' previous visit to Doha in August 2022, where discussions focused on joint coordination in economy, investment, and other fields.

Diplomatic relations between Qatar and Greece began in 2007 with the establishment of embassies in Athens and Doha. High-level visits have continued since then, with numerous agreements in trade, media, air transport, military cooperation, tourism, culture, energy, and investments. Notable agreements include a 2008 pact to avoid double taxation and a 2010 memorandum of understanding in tourism and energy.

Qatar has actively participated in the "EU-Arab World Summit" and the Arab-Hellenic Economic Forum, aiming to strengthen cooperation and economic ties. In May 2018, Qatar's former Minister of Economy and Commerce discussed enhancing the Qatar-Greece Business Council, established in 2015 to foster dialogue between business leaders and government officials.

Trade between Qatar and Greece, valued at around USD 100 million, has significant room for growth. Promising Qatari investments in Greece span energy, tourism, hospitality, and real estate. In 2019, HE Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani inaugurated the Qatar-Greece Business Forum, emphasizing Qatar's commitment to invest in Greece and enhance bilateral cooperation in line with Qatar National Vision 2030.

Qatar Airways has expanded its routes to Greece, including Thessaloniki and Mykonos, complementing the visa exemption agreement for diplomatic and special passports. Recent trade between the two countries grew by 120 percent in 2021, reaching approximately QR 897 million.

Greek investments have increased, particularly in energy and infrastructure, attracting foreign direct investment to its highest level in 20 years in 2021. Greece's strategic location and rich cultural heritage, with Athens being a significant historical center, further boost its appeal for international cooperation and investment.

Overall, the strengthened relations between Qatar and Greece signal a promising future for mutual economic growth and diversified cooperation across various sectors.

Source : www.qna.org.qa