United Arab Emirates (UAE) Foreign Minister Abdullah bin Zayed bin Sultan Al-Nahyan on an official state visit to Greece has said “The attention we pay to this country (Greece) stems from our conviction that despite the difficult economic conditions the global economy is passing through, especially the financial crisis that hit Greece, we are confident that there is hope for recovery".

According to Gulf News, ‘Sheikh Abdullah expressed happiness at visiting Greece with which the UAE has distinguished relations’.

The Emirati foreign minister, with a delegation from the Persian Gulf, is in Athens to attend a Greek-Arab business forum with the participation of business people and political figures from both states.

On Wednesday, Sheikh Abdullah met with President Papoulias where the two discussed bilateral energy cooperation and developments in the Middle East. On the same day the visiting foreign minister met with Finance Minister Evangelos Venizelos where talks focused on the UAE’s participation in investment opportunities in Greece through an ongoing privatisation plan.

Earlier on Wednesday, both Greece and the UAE signed a memorandum which aims to boost tourist numbers.

Deputy Tourism Minister Petros Alivizatos commented, at the Athens seaside resort of Lagonissi that “We are in an era where development and investments are the cornerstone for the recovery of Greek economy. Tourism is a main lever in this effort”

Alivizatos said “Greece needs high-quality investments with long-term performance, with respect to the particularities of the country's natural wealth, as well as investments in a model that will extend the tourism season (beyond summer)”.

In a meeting with Prime Minister Lucas Papademos and Deputy Environment, Energy and Climate Change Minister Yiannis Maniatis, the UAE showed great interest in Greece’s energy policies. According to diplomatic sources, Dr Al Jaber, Special Envoy and Assistant Foreign Minister for energy and climate change issues, indicated that the UAE is interested in participating in the planned privatisations of Greek energy sector utilities, as well as the search for oil and natural gas on Greek territory.

Maniatis was invited to visit the UAE in the near future for further discussion on prospective cooperation in the energy sector.