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Politics

Mitsotakis at EU-Arab Summit: ‘Greece’s Economic Rebound Will Be Very Strong’ with COVID Vaccine

November 9, 2020

ATHENS — The Greek economy will "experience a very strong rebound once the vaccine is found" for the coronavirus pandemic plaguing global economy, Prime Minister Kyriakos Mitsotakis said during the opening of the two-day online 5th EU-Arab World Summit on Monday.

In a round-table discussion with journalist John Defterios, the Greek Premier noted that foreign investors are already taking advantage of investment opportunities available in Greece during the pandemic. He mentioned a primary interest in the hotel and tourism sectors but beyond them as well, as in the investments of Abu Dhabi Capital Group LLC in fish farming and state-of-the-art food technologies. He also spoke of investments by Microsoft in building three large-scale data centers in Greece and by Volkswagen in turning a Greek island into a smart e-mobility model.

In addition, he noted, financial institutions have expressed interest post-Brexit in establishing a presence in Greece. "We offer enough incentives to allow them to do that. Greece must turn into a financial hub for the greater region," Mitsotakis said.

The pandemic has created investment opportunities at European level as well, he added, as the EU now "borrows as a supranational entity to strengthen the member states." The EU recovery fund will assist in a "very strong recovery, which will be accompanied by investment and increased consumption" after the coronavirus vaccine becomes available.

Regarding Greece-Turkey relations, the Prime Minister said Greece is ready for a discussion aimed at resolving problems in the context of International Law. Responding to a reporter's question on whether Greece would be willing to share energy resources with Turkey, he clarified that "this is not something under discussion" and reiterated that the two countries first need to define and delimit maritime zones in a fair manner.

Greece has made repeated efforts to communicate with Turkey, especially since he assumed the premiership, but the response is "a series of particularly provocative actions which have cast doubt on our sovereign rights with unilateral research activities in regions we consider Greek Exclusive Economic Zone," he stressed.

The digital two-day summit (Nov. 9-10) is examining strategic relations between the European Union and the Arab world during and after the coronavirus pandemic, and is held under the patronage of the European Parliament and the auspices of the Greek Ministry of Foreign Affairs.

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