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Arab Investments in Greece

arabsSignificant inflows for investment in Greece are expected from the government after the current completion of negotiations between Greek and UAE delegation, on the text of the Agreement on Reciprocal Promotion and Protection of Investments.
The text takes under consideration points of Greek interest, particularly as far as the compliance with the EU acquisitions is concerned, and achieves the goals set by the Greek side, paving the way for mutual investments. For the agreement to be signed and put into place, it has to be approved by the European Commission and then be ratified by the Parliament.
The Deputy Minister of Development and Competitiveness and Shipping, Notis Mitarakis said: “On behalf of the Greek government I would like to thank the government of the United Arab Emirates on the completion of the negotiations. The agreement on mutual promotion and protection of investments was also agreed on- which is directly going to be promoted for approval by the European Commission. This will contribute to a strategic partnership between Greece and the UAE and simultaneously create great a scope for further development of bilateral economic relations.
“Greece is not just a member of the Eurozone. Greece has excellent relations with the Arab world and holds a strategic position in the region of Southeast Europe. As the Greek economy stabilizes and comes out of the recession, it creates significant investment opportunities. These are the opportunities we want to highlight and use for the benefit of both countries.”
On the side of the UAE,  Financial Secretary, Younis Haji Al Khoori said, “This agreement, along with the other agreements signed recently, will further enhance the flow of capitals between the two countries and will also provide greater certainty for investors, concerning legal framework in which the entrepreneurs can turn in case of a dispute resolution. Moreover, the agreement needs to be signed and ratified as soon as possible.”

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