Greece, Portugal Commit to Boosting Investments, Collaboration in Trade

September 30, 2020

ATHENS — Greek Deputy Foreign Minister for Economic Diplomacy and Extroversion Kostas Fragogiannis met with visiting Portuguese Secretary of State for Internationalization Eurico Brilhante Dias in Athens on Wednesday morning to discuss economic, trade and investment opportunities of the two countries.

The two ministers attended the "Discover Portugal" online event on the sidelines of the Brilhante Dias' visit. This was organized by the Enterprise Greece (Greece's export-promotion agency), the Portuguese embassy in Athens and Portugal's Investment and External Trade Organization (AICEP). Forty-five Greek companies and agencies participated, as did the Hellenic Federation of Enterprises (SEV), among others.

Fragogiannis said investment opportunities were available for Portuguese companies in infrastructure, tourism and Greek food products. "We would very much like to see more Portuguese capital be invested in the Greek economy, and would do our best to facilitate them," he said.

Brilhante Dias invited Greek investors to take advantage of opportunities and tech know-how the Portuguese economy offers in renewable energy sources and management of waters and sewage, and referred to great prospects of bilateral collaboration in maritime economy and shipping. Portugal, he said, is an ideal platform from which to approach markets of Africa and Latin America, while Greece is a needed partner in the East Mediterranean, Balkans and Middle East.

The two countries have signed a bilateral agreement on tourism collaboration and a memorandum of economic collaboration, both in 2018.

The Portuguese minister also attended in Athens the signing of a memorandum of understanding between the Hellenic Development Bank and his country's National Development Organization (IFD). The MoU looks to boost the relationship between the two agencies, which are also members of the European Venture Fund Investors Network (EVFIN), especially in joint interests related to investments in inter-border actions, information exchange, tech know-how and good practices and working together on promotional events.


ATHENS — Credit ratings company Fitch has revised Greece’s outlook to positive from stable, although it kept the country’s rating at BB, two notches below investment grade.

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