Ukraine and Saudi Arabia signed a Memorandum on Investment Cooperation in the Agro-Industrial Complex

2 November 2017, 11:51

During the official visit of the President of Ukraine Petro Poroshenko to the Kingdom of Saudi Arabia, the Ukrainian and Saudi parties signed a Memorandum on Investment Cooperation in the Agro-Industrial Complex.

The Ministry of Agrarian Policy and Food of Ukraine informs that the intergovernmental document at the legislative level defines specific areas of bilateral investment cooperation in the agricultural sector and mechanisms for encouraging investments in agriculture.

It is noted that the parties will exchange information on the investment environment, including agrarian policy, rules and regulations on attracting investment, tax regulation, potential investors and their needs.

Moreover, the information will be provided on the availability of investment companies that intend to conduct activities in the field of agriculture and existing programs of investment support.

Reference: export of agricultural products from Ukraine to the Kingdom of Saudi Arabia amounts to 80% of the total volume of domestic exports to the Kingdom. Over the period of 9M 2017, the export of agricultural products amounted to US$ 309.8 million. Among the exported products are:

cereals — US$ 254 million;
vegetable oil — US$ 25.2 million;
meat and offal (mainly poultry) — US$ 11 million;
eggs — US$ 1.6 million;
butter — US$ 1.7 million.