ATHENS, Feb. 25 (Xinhuanet) -- Visiting South African President Thabo Mbeki urged Greek businessmen on Friday to invest in his country and praised the high level of relations between the two countries as a base of a closer economic cooperation.

    Addressing a business event organized by EBEA, the Commerce and Industry Chamber of Athens, the South African President said that both governments were fully prepared to offer the necessary facilities to business activity, adding that an agreement signed between his country and the European Union was a significant factor in attracting Greek investments in South Africa.

    He stressed that macro-economic stability and the high level of infrastructure growth in South Africa guaranteed safe and attractive investments.

    EBEA President Drakoulis Fountoukakos said the EU-South African cooperation agreement would encourage growth and deregulation of merchandise trade, services and capital movement between the two sides, due to the fact that the agreement covers around 90 percent of current bilateral trade.

    Fountoukakos said that Greece and Greek enterprises could seek many business partnership opportunities in the South African market, noting that Greece was the 12th biggest foreign investor in the country in the period of 1999-2002, with investments totaling 250 million US dollars.

    Greek investments have created around 100,000 new jobs in South Africa, he said. Enditem