Ukraine and Saudi Arabia sign memo on investment cooperation in agriculture
09.11.2017Deliveries of agricultural products from Ukraine to Saudi Arabia account for 80% of the total volume of Ukraine's exports to this state.
The Cabinet of Ministers of Ukraine and the Government of the Kingdom of Saudi Arabia signed a memorandum on investment cooperation in the field of agriculture, which involves intensification of cooperation between the states in this sector and attraction of investments to the Ukrainian agrarian sector. This was informed by the Ministry of Agrarian Policy and Food of Ukraine.
"Agriculture is a key component of trade and economic cooperation between our countries, and the share of agricultural products in the overall structure of Ukrainian exports to Saudi Arabia is the largest." Signing of the memorandum is an opportunity to expand our cooperation in the field of agriculture and move away from the model of direct supplies of raw materials, attracting investments in the domestic agricultural sector, in particular in the processing industry. The Government of Ukraine is ready to provide appropriate assistance to the Saudi investors", - informed the first deputy head of the Ministry of Agrarian Policy Maxim Martynyuk during the press service. It was he who signed the intergovernmental document.
According to the press service, the memorandum assumes that the parties will exchange information on the investment environment, including current investment support programs, rules and regulations on attracting investments and tax regulation. The parties also agreed to provide each other with information on potential investors indicating their needs, as well as to notify the presence of investment companies that intend to carry out activities in the field of agriculture.
The press service added that the supply of agricultural products from Ukraine to Saudi Arabia is about 80% of the total volume of domestic exports to this state.
According to the press service, Ukraine has supplied agricultural products worth USD 309.8 mln to Saudi Arabia for nine months of this year. Ukraine exports to this country mainly grain (USD 254 mln), vegetable oil (USD 25.2 mln), meat and offal (USD 11 mln), bird eggs (USD 1.6 mln).
During the official visit of President Petro Poroshenko to Saudi Arabia, the parties in addition to this memorandum signed a number of documents on bilateral cooperation in the training of diplomatic personnel sphere, as well as on cooperation in the information sphere.
Following: UNIAN