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MENAFN - Arab News - 22/11/2012

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(MENAFN - Arab News) Secretary-General of the Eastern Province Chamber of Commerce and Industry (EPCCI) Abdulrahman Al-Wabil urged a visiting Greek business delegation to exploit investment opportunities in the Eastern Province.

Rashad Mabjar, secretary-general of the Arab-Greek Chamber of Commerce and Development (AGCCD) headed the Greek delegation, representing 26 firms.

The Greek companies are working in different specialties including mining, construction, renewable energy, building materials, chemicals, infrastructure, furniture, stationery, security and safety, and project management.

Despite good potential for bilateral trade in the two countries the required commercial levels have not yet been reached, Al-Wabil told Saudi Press Agency. He said trade exchange between the two countries stood at SR 9.2 billion last year. Saudi exports to Greece amounted to SR 8.6 billion while Greek exports to the Kingdom reached SR 600 million.

The AGCCD secretary-general said their visit was aimed to promote trade exchange, particularly after the Greek side felt that Greek products and services received good acceptance in the Kingdom.

He said the energy and tourism sectors would be presented to the Saudi investors. Greece has become an energy center in southeastern Europe and enjoys big growth rates. Greece was prepared to produce 40 percent of its energy needs from renewable energy sources by 2020.

Mabjar said that the Greek economy has good investment opportunities, notably in the areas of tourism, real estate, food industries, energy, and agriculture.

He called on the Saudi investors to benefit from such opportunities, which would push business ties and increase the volume of trade exchange between the two countries.

 






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