UAE and Greece unveil €12.75 billion partnership package

The United Arab Emirates and Greece announced 18 agreements and commercial partnerships worth €12.75 billion ($14.3 billion) on Thursday, alongside plans for another €15 billion of UAE investment in Greece.

The announcements came at the UAE-Greece Strategic Forum in Athens, attended by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Greek Prime Minister Kyriakos Mitsotakis. The package covers digital infrastructure, artificial intelligence, energy, logistics, healthcare and food security.

Abu Dhabi said the proposed additional investment would be channelled through an existing joint investment initiative. The commitment is separate from the value assigned to the agreements announced at the forum, which include memoranda of understanding as well as commercial arrangements. Neither announcement establishes that the full sums have already been disbursed.

The proposed funding follows a €4 billion investment target agreed in 2022 between UAE sovereign investor ADQ and Greek development finance institutions. Greece’s prime minister’s office said that target had already been exceeded, although it did not provide a revised total for investments completed under the arrangement.

UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi said the country intended to direct additional capital towards energy, hospitality, artificial intelligence, technology, industry and infrastructure over the next five to eight years. A separate official statement denominated the new investment intention in euros, while the minister described a $15 billion programme, leaving a difference in the currencies used in the announcements.

The forum brought together government representatives, investors and businesses seeking to identify projects across both economies. The announced partnerships extend to renewable energy and clean energy infrastructure, transport and ports, advanced technology, life sciences and industrial activities, according to Abu Dhabi’s media office.

Al Zeyoudi said the agreements reflected growing confidence in the economic relationship, while stressing the need to turn the announcements into productive projects. He also identified Greece’s access to European markets and the UAE’s trade connections across the Middle East, Africa and Asia as potential advantages for companies pursuing cross-border expansion.

The UAE minister said bilateral trade reached approximately $300 million in the first half of 2026, an increase of 13% from the corresponding period a year earlier. The figure offers a measure of commercial exchange alongside the much larger investment commitments, which are intended to finance projects rather than represent current merchandise trade.

Sheikh Khaled and Mitsotakis also held bilateral talks at the Greek prime minister’s office, reviewing cooperation in investment, energy, infrastructure, tourism, healthcare and emerging technologies. The Greek government said discussions included defence and regional investment cooperation, reflecting the wider scope of the two countries’ strategic relationship.

Mitsotakis welcomed the visit during a period of regional instability and emphasised the importance of partnerships that had produced tangible investment results. He said the business agreements offered an opportunity to assess bilateral cooperation and discuss the two countries’ roles in promoting stability.

Energy investment is already a significant component of the relationship. Abu Dhabi renewable energy company Masdar completed its acquisition of Greece’s Terna Energy in 2025, following its purchase of a controlling 70% stake in 2024. The transaction was initially valued at an enterprise value of approximately €3.2 billion.

The acquisition provided an established corporate investment example as the two governments sought to attract further capital into energy infrastructure. However, officials did not provide a comprehensive project-by-project breakdown of the new €12.75 billion package or specify which proposed investments would proceed first.

The strategic forum also examined the use of artificial intelligence and emerging technologies to improve supply chains and support food security. Participants discussed ways to connect businesses and institutions, with attention to investment opportunities that could generate commercial activity in both countries.

The discussions took place alongside Investopia Mediterranean, another gathering focused on investment opportunities and economic cooperation. Al Zeyoudi also said negotiations between the UAE and European Union on economic relations were continuing, with Greece playing a role in supporting engagement. The minister identified maritime transport, agriculture, fisheries and hospitality among areas where Greek expertise could complement UAE investment and commercial capabilities, particularly in Mediterranean markets.

Among the officials attending were Greek Deputy Foreign Minister Haris Theoharis and Dimitris Skalkos, secretary-general for international economic relations at Greece’s foreign ministry. Representatives of chambers of commerce and private companies joined the discussions, alongside senior UAE officials responsible for trade, investment and industrial development.