Ukraine and Saudi Arabia are determined to strengthen cooperation in the agricultural sectorThe Odessa Journal | 16 February 2025Ukraine and Saudi Arabia will hold a joint business forum in May
Ukraine and Saudi Arabia are determined to strengthen cooperation in the agricultural sector. In particular, a joint forum with the participation of business representatives from both countries will take place in May. The event will promote the development of bilateral contacts, attract investments to Ukraine, and revitalize trade relations. This agreement was reached during a meeting between Ukraine’s First Deputy Prime Minister and Minister of Economy, Yulia Svyrydenko, Ukraine's Minister of Agrarian Policy, Vitaliy Koval, and Saudi Arabia’s Minister of Environment, Water Resources, and Agriculture, Abdulrahman al-Fadli.
During the meeting, significant attention was given to the investment opportunities in Ukraine’s agricultural sector and its development prospects, particularly in agro-processing. Yulia Svyrydenko emphasized that despite the challenges of the war, the sector is recovering and developing.
"In 2024, agricultural exports reached 24.7 billion USD, which makes up 59% of last year’s total exports. Ukraine remains a global agricultural powerhouse, cultivating 24.5 million hectares of land, including 20.1 million hectares of grains and oilseeds. Our goal now is to move beyond raw material exports and increase the production of value-added goods. Therefore, investments in Ukraine’s agricultural sector present great opportunities for forward-thinking companies," said Yulia Svyrydenko.
Examples of successful investments include companies like SALIC and Continental Farmers Group.
"Successful projects by Saudi companies in the agricultural sector are working. For example, Continental Farmers Group cultivates 200,000 hectares in western Ukraine and paid 1.6 billion USD in taxes to various budgets in 2024. Moreover, the company plans to expand its presence in Ukraine. I have encouraged the company to actively move into the processing industry to create and supply high-value-added goods to global markets," said Minister of Agrarian Policy and Food, Vitaliy Koval.
The meeting also discussed other steps that would strengthen economic cooperation between the two countries and assist businesses in establishing direct contacts. In particular, participants agreed on the necessity of resuming the active work of the Ukrainian-Saudi intergovernmental commission on trade-economic and scientific-technical cooperation.
