RIYADH — Saudi Arabia and Greece acknowledged on Sunday the progress made on the East to Med Data Corridor (EMC) subsea cable project, which aims to enhance digital connectivity between East and West.
In a joint statement issued at the conclusion of the visit of Greek Prime Minister Kyriakos Mitsotakis to Saudi Arabia, both countries reaffirmed their commitment to completing it on schedule. During the visit, Mitsotakis held extensive talks with Crown Prince and Prime Minister Mohammed bin Salman.
In the energy sector, the Hellenic Republic commended the Kingdom’s leading role in enhancing the reliability and stability of global oil markets and its positive contribution to balancing energy markets in the interests of both producers and consumers, supporting sustainable economic growth.
Both sides stressed the critical importance of safeguarding the security of international maritime corridors to ensure the safe, uninterrupted flow of energy supplies to global markets, and expressed concern over attacks on energy infrastructure, which affect supply availability and market stability. The Greek side commended the Kingdom’s efforts to ensure continuity of supplies and strengthen supply chain resilience, notably through alternative export routes such as the East-West Pipeline, which have helped mitigate market volatility and strengthen global energy security.
Saudi Arabia and Greece stressed the importance of the 2022 memorandum of cooperation in the energy sector, which includes the Saudi-Greek electrical interconnection project, and committed to accelerating cooperation in this strategic field. The Saudi side noted that the project is one of several interconnection initiatives the Kingdom is implementing as part of its ambition to become a global hub for electrical interconnection and energy exports. It will enable the exchange and export of electricity, enhance the security and reliability of interconnected grids, and link the Kingdom’s grid to Europe via the Hellenic Republic. The Greek side highlighted Greece’s strategic location and existing infrastructure as pillars of its development into a regional hub for energy and digital connectivity, a vision that complements the interconnection project.
Saudi Arabia welcomed Greek investors and companies, expressing interest in attracting high-quality investment and advanced expertise in promising sectors. It encouraged Greek firms to establish regional headquarters in the Kingdom and to explore opportunities in major projects, including those linked to the Kingdom’s hosting of Expo 2030 Riyadh and the 2034 FIFA World Cup. The Greek side encouraged Saudi companies to explore investment opportunities in Greece, highlighting its strategic location as a gateway to the European market and Southeast Europe, and opportunities in energy, transport, logistics, digital infrastructure, and advanced technologies.
On the economy, trade, and investment, both sides commended the strength of economic ties and agreed on the importance of strengthening them further, particularly in priority sectors, and of seizing the investment opportunities created by both countries’ strategic visions. They noted with appreciation the growth in bilateral trade since 2021, which reached about $1.7 billion in 2025. They welcomed the progress made by the investment and trade committee under the council and stressed the need to implement agreed initiatives to deliver tangible results. They also welcomed the recent meeting of the Saudi-Hellenic Business Council in Athens and agreed on the importance of strengthening investment in key sectors, including infrastructure, construction, energy, digital connectivity, logistics, and technology.
Source: Saudi Gazette