Riyadh: The Saudi-Hellenic Investment and Trade Committee, part of the Saudi-Hellenic Strategic Partnership Council, conducted its second virtual meeting yesterday. The meeting was co-chaired by Majid Al-Kassabi, Minister of Commerce and Chairman of the General Authority of Foreign Trade, and Takis Theodorikakos, Hellenic Minister of Development.

According to Saudi Press Agency, Al-Kassabi highlighted the profound strategic relationship between Saudi Arabia and Greece, noting the centennial celebration of diplomatic relations between the two countries this year. The committee is focused on enhancing trade ties, fostering sustainable economic growth, and strengthening investment partnerships between the nations.

The committee's collaborative efforts have so far resulted in 23 initiatives developed in conjunction with 16 Saudi entities. These projects cover various critical sectors such as investment, health, transportation, logistics, industry, agriculture, food, economy, foreign trade, customs, small and medium enterprises, and standards and metrology.

Saudi Arabia's representation in the committee includes 10 government entities, spearheaded by the Ministry of Commerce. Other participants include the ministries of environment, water and agriculture; finance; industry and mineral resources; transport and logistic services; economy and planning; health; and investment, along with the Zakat, Tax and Customs Authority and the Public Investment Fund.

Reflecting the growing partnership, bilateral trade volume increased by 76% in 2025, reaching $1.7 billion compared to $970 million in 2020. Saudi exports to Greece were dominated by plastics and aluminum, while Greek imports into Saudi Arabia primarily consisted of mineral products and pharmaceuticals.