Greece-Qatar Business Council chairman sees boost in private sector ties

Chairman of Greece-Qatar Business Council Panagiotis Mihalos has said the level of bilateral ties and the attractive investment climate of the two countries pave the way for more co-operation between the private sector.

He added, during an interview with Qatar News Agency, that co-operation between the two countries' private sector is set to improve thanks to the effort made by officials in that regard, highlighting that trade volume did not exceed $80mn in 2018.

He said the Qatar-Greece Business Forum was held in Doha last week, organised by the Greece-Qatar Business Council in co-operation with Qatar Chamber. The attendance of the two countries' Ministers of Foreign Affairs was the latest in the efforts of bolstering business ties. He added that around 40 Greek companies held talks with 100 Qatari companies, exploring the prospects for co-operation in commerce and investments.

Mihalos also expected that the co-operation between the private sector in Qatar and Greece will be further enhanced in light of the political support and will to bring the business community closer. He stressed that the Greek-Qatari Business Council will make every effort to increase the levels of trade and investment between the two countries.

He pointed to the efforts by the Greek-Qatari Business Council to promote economic co-operation between the two countries in order to deepen bilateral relations. He pointed out that the proposal to start a joint ministerial committee for economic co-operation between the two countries will help maintain the momentum generated by official visits.

Mihalos also said that most of Qatari citizens he meets have plans to visit Greece, especially with direct flights that Qatar Airways operates to Athens, Thessaloniki, and Mykonos.

The chairman of the council also discussed the efforts being made in facilitating the process of having Greek companies participate in Qatar's developmental projects. He noted that the council has organised visits for three Greek business delegations during the past 11 months alone. He said that a number of Greek construction companies have begun carrying out large infrastructure projects in the country. He added that companies in other sectors, such as food products, information technology, tourism, pharmaceuticals, and others offer great investment potential.

Mihalos said the success of Qatar in turning the impact of the blockade into economic gains is an experience worth examining and celebrating, adding that Qatar is becoming a business and trade hub for the region and Asia with the success of the Qatar Financial Center and the Qatar Free Zones Authority.

Mihalos said Greece has created a promising investment environment as the country has simplified many bureaucratic procedures, recovering from a severe economic crisis. He said the economic crisis affected only the government sector.

Mihalos added that the Greek economy is opening up promising prospects for investment amid strong growth figures, which offer opportunities for Qatari businessmen.

He said the small and medium-sized enterprises (SME) sector in Greece represents an encouraging opportunity for Qatari investors as the country's banking system suffers from lack of liquidity and its inability to provide the necessary funds to stimulate this sector.

Mihalos said Qatar and Greece share many strengths. Qatar strives to diversify its economy with safe and prosperous investments in various sectors around the world, which is a good indicator of creating a thriving and open economy.

Mihalos said Greece offers opportunities in various fields, including logistics, ports, energy, food production, agriculture, information technology and others. The country has also improved its economic infrastructure and begun to emerge as a logistics centre.