Saudi Arabia, Greece affirm commitment to complete submarine cable project on time

Saudi Arabia and Greece have affirmed their commitment to completing the East to Med Data Corridor (EMC) subsea cable project on time, according to a joint statement released following Greek Prime Minister Kyriakos Mitsotakis' visit to Saudi Arabia. The EMC aims to boost digital connectivity between the East and West. During the visit, Mitsotakis met extensively with Crown Prince and Prime Minister Mohammed bin Salman.

The Greek Republic praised Saudi Arabia for its leadership in stabilizing global oil markets and its positive impact on energy market balance, contributing to sustainable economic growth. Both countries emphasized the critical importance of securing international maritime routes to ensure consistent energy supply, expressing concern over attacks on energy infrastructure that could disrupt supply and market stability.

The Greek side acknowledged Saudi Arabia's efforts to maintain supply continuity and enhance supply chain resilience, particularly through alternative export routes like the East-West Pipeline, which has helped reduce market volatility and bolster global energy security. The two nations reaffirmed their commitment to the 2022 energy sector memorandum of cooperation, which encompasses the Saudi-Greek electrical interconnection project, and pledged to intensify cooperation in this strategic area.

Saudi Arabia highlighted the project as part of its broader ambition to become a global hub for electrical interconnection and energy exports, enabling electricity exchange and export, enhancing grid security, and linking the Kingdom's grid to Europe via the Hellenic Republic. In return, Greece highlighted its strategic location and existing infrastructure as key components of its development into a regional energy and digital connectivity hub, aligning with the interconnection project.

Saudi Arabia invited Greek investors and companies, expressing interest in attracting high-quality investments and advanced expertise in various sectors. It encouraged Greek firms to set up regional headquarters in the Kingdom and explore opportunities in key projects, including those related to the Kingdom's upcoming Expo 2030 Riyadh and the 2034 FIFA World Cup.

The Greek side encouraged Saudi companies to invest in Greece, emphasizing its strategic location as a gateway to the European market and Southeast Europe, along with opportunities in energy, transport, logistics, digital infrastructure, and advanced technologies. Both sides commended the strength of their economic ties, agreed to strengthen them further, particularly in priority sectors, and highlighted the growth in bilateral trade, reaching approximately $1.7 billion in 2025.

They welcomed progress in the investment and trade committee and stressed the need to implement agreed initiatives to deliver tangible results. The Greek-Hellenic Business Council's recent meeting in Athens was also welcomed, with both sides agreeing on the importance of fostering investment in sectors like infrastructure, construction, energy, digital connectivity, logistics, and technology.