The British Embassy and British Council in Athens, in association with the Hellenic Foundation for European and Foreign Policy (ELIAMEP), organised the fifth conference on UK-Greek co-operation and partnership, which took place from 8–10 October 2004 on the island of Hydra.

The Hydra V Conference attracted politicians, government officials, academics, businessmen and journalists from Greece and the UK and concentrated on particular themes of common interest, such as the political and security situation in the Eastern Mediterranean, EU-Turkey Relations and Cyprus. Next steps: international terrorism and the Israeli-Palestinian conflict.