The Greek Foreign Ministry announced on Wednesday that a total of sixteen agreements were signed between Greek and Saudi entrepreneurs.

The 16 agreements concern the sectors of energy, shipping, aquaculture, waste management, construction and defense technology, and also foods and agri-food, as well as culture.

The business meeting was held in Athens, as part of Saudi Crown Prince Mohammed bin Salman’s first official visit to Greece.

"Today is a special moment in our relationship with Saudi Arabia. Today's signing of 16 business agreements is undoubtedly a success," Greek Deputy Minister for Economic Diplomacy and Openness Konstantinos Fragogiannis said on Wednesday.

"More than 100 Greek and about 40 Saudi entrepreneurs met today in Athens, pursuing contacts between business circles, in addition to the fact that today these relations were sealed with the first 16 agreements," said senior Greek official Yannis Smyrlis.

Fragogiannis was addressing the high-level meeting with members of the Saudi ministerial and business team, which followed the two recent business forums held between the two countries in 2022 (Riyadh, March 13-14 and Athens, May 30-31).

These agreements come at a time when all member countries of the EU, with the exception of Hungary, agreed to cut gas supplies by 15% for this winter.

The effects of the war in Ukraine war on the EU have been quite severe in recent months. Some companies in the EU were forced to slow or completely halt their production due to the increasing cost of gas.

Greece asked to be exempted from the EU plan two days ago. During a press briefing, spokesperson Giannis Oikonomou said a reduction of gas demand based on the 15-year average would mean a 24% reduction instead of 15%. These numbers, according to Oikonomou, are "unacceptable."

Questions are raised with regard to the possibility of Saudi Arabia satisfying Greece's demands in the energy sector.

Read more: EU states intend to ask for exemptions from plans to reduce gas demand