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Newsletter October 2010


Greece and Qatar Agree to Boost Cooperation, Investment

Greece and Qatar signed a general framework agreement to boost development cooperation between the two countries.

The framework cooperation agreement, or Memorandum of Understanding (MoU), was signed by Greece's Minister of State responsible for international investments Haris Pamboukis and the Chief Executive Officer (CEO) and Executive Director of the state Qatar Investment Authority's (QIA) investment arm Qatar Holding, Ahmad Al-Sayed, in the presence of Greek Prime Minister George Papandreou and the Emir of Qatar Sheikh Hamad bin Khalifa Al Thani.

The MoU notes that the two sides are interested in the development and strengthening of the economic cooperation between the two countries in the field of investments and expresses their mutual intention to extend their cooperation for the advancement of investment plans and opportunities between Greece and the QIA, chiefly in the fields of real estate, tourism, transports, port and airport facilities, banking, financial and credit services and energy, as well as other sectors.

According to the agreement, the QIA affirms its intention to invest in Greece, even through its subsidiaries, with an overall target budget for investments of five billion dollars, and the two sides express their joint intention to cooperation in examining ways in which the QIA may take part in investment opportunities in Greece.

September 25, 2010