I. Diplomatic Relations

Relations between the two countries are at a very good level. Greece has an Embassy in Riyadh and Saudi Arabia has an Embassy in Athens.


II..Contractual framework for Greek-Saudi relations

-       Agreement on Financial and Technological Cooperation (Riyadh, 17-9-86, ratified by Law 1707/1987, Government Gazette 98/D/22-8-1987, entry into force 18-2-1988). valid for five years and tacitly renewed for five-year periods.

-       Air Transport Agreement (Athens, 23-5-89, ratified by Law 1997/1991,Government Gazette 197/D/16-12-1991, entry into force 29-1-1992).

-       Agreement on the Avoidance of Double , regarding the taxation of income resulting from the exploitation of planes used in international air transport,  

        signed by Greeces Finance Minister, Mr. Sioufas, and the Saudi Arabian Finance Minister, Dr. Assaf, during the state visit of the President of the Hellenic Republic, Mr. Karolos Papoulias, to Saudi Arabia. The ratification procedure is under way.

-       Memorandum of Understanding (U)  for the creation of a Greek-Saudi Arabian Business Council, signed between the Hellenic Foreign Trade Board and the Council of Saudi Arabian Chambers of Commerce. The Greek-Saudi Arabian Business Council, was convened in Athens, on 13/9/2006, with a view to becoming a means for reviving the promotion of bilateral business relations.

-       Oil Purchase Agreement for the purchase of oil from Saudi Arabia (3/9/1983).

III. Political relations

Political relations between Greece and Saudi Arabia are at a very good level  and there is also a good partnership with regard to candidacies in different international institutions.  Within this framework, Saudi Arabia supported our candidacy to become a non-permanent member of the UN Security Council for the period 2005-2006.

The President of the Hellenic Republic, Mr. Karolos Papoulias, carried out a state visit to Saudi Arabia (29-30/4/2006), accompanied by Development Minister Mr. Sioufas, the Minister of Mercantile Marine, Mr. Kefalogiannis, Deputy Finance Minister Mr. Doukas and Deputy Foreign Minister Mr. Kassimis.

The President was also accompanied by twenty select business delegates, who had a different schedule under Deputy Finance Minister Mr. Doukas.

Following the bilateral consultations, and in the presence of both heads of state, the Greek Finance Minister Mr. Sioufas and the Saudi Finance Minister Dr. Assaf signed an Agreement on the Avoidance of Double-Taxation on 30/4/2006, regarding the taxation of income resulting from the use of airplanes in international air transport.

In the field of mercantile shipping, the meetings of the Greek delegation in Saudi Arabia dealt with the latters significant financial links with major Greek shipping companies. The Minister added that prospects for investments from Saudi Arabian businesses in Greece were also examined.

Deputy Foreign Minister Mr. Yannis Valinakis carried out a visit to Riyadh in order to take part in the EU-Gulf Cooperation Council Ministerial Meeting (Riyadh, 8/5/07). Within the framework of this meeting, Mr. Valinakis met with the Saudi Arabian Deputy Foreign Minister Dr. Madani, with whom he signed a Memorandum for the establishment of political consultations between the two Foreign Ministries. Mr. Valinakis also renewed the invitations on the part of Greece to King Abdullah and to Foreign Minister Mr. Saud Al Faisal to visit our country.

The Saudi-Greek Friendship Group of Saudi-Arabias Consultative Council (Majlis al-Shura) visited Athens from 22 to 26 January 2007. During their stay, the members of the Friendship Group had meetings with the President of the Hellenic Republic and the Foreign Ministrys leadership.

On 18 November 2008, Saudi Arabias Foreign Minister Saud Al Faisal visited Athens accompanied by a large delegation. Saudi Arabias Foreign Minister met with the President of the Hellenic Republic, Mr. Karolos Papoulias, Prime Minister Mr Kostas Karamanlis, and his counterpart Ms. Dora Bakoyannis.

IV. Economic and Trade Relations

Our main exports for 2007 were: oil seeds and oleaginous fruits (10.52%), gas, liquid or electricity metres (7.75%), fresh or refrigerated vegetables (6.68%), passenger or commercial ships (5.94%), preserved fruit (5.36%). The five main imports from Saudi Arabia in 2007 were: crude oils or  oils from asphaltite minerals (92.16%), ethers and their derivatives (1.73%), acyclic alcohols and their derivatives (1.69%), polycarboxylic acids and their derivatives (1.21%), waste and copper scrap (0.85%). The trade balance is particularly negative for our country, given that the main volume of our imports concerns oil and its derivatives.

V.Cultural relations

Greeces cultural and educational relations with Saudi Arabia do not have a contractual framework.

VI.  Greek community

The number of Greeks who live and work in Saudi Arabia has fallen significantly over the past few years, and it is now estimated at about 500-600 persons, most of whom live on the western part of the country (Jeddah, Yanbuh). Jeddah has a Greek Society and a Greek high school. There are, however, some Greeks living in the capital, Riyadh.

VII. Embassy and Consulate Details