“Kingdom of Saudi Arabia is the strategic partner of Ukraine in Persian Gulf subregion. Today the main trade is predominantly raw products of agricultural and industrial complex. However, in spite of the potential of Ukrainian agricultural sector, we strive for enhancing bilateral trade through export of products with high added value. First of all, through export of oil, dairy products, eggs, poultry and cattle”, - Minister of Agrarian Policy and Food of Ukraine Alexei Pavlenko said during the meeting with media representatives of Kingdom of Saudi Arabia, Governmental Portal reports.

He reported that commodity turnover between countries in 2015 was USD 473 mln.   Although Ukraine does not import commodities from Saudi Arabia, the commodities turnover is ensured exclusively through export. As per results of 2015, cereals (USD 402,900,000), oil (USD 61,470,000), food industry residues and waste (USD 3,300,000), eggs (USD 3 mln) were among main export items.

Alexei Pavlenko added that in 2015 Saudi Food and Drug Authority provided the permission on import to Saudi Arabia the chicken of Ukrainian manufacture, which is a significant step for national manufacturers towards the expansion of supplies to Saudi Arabia market.

“At the end of 2016 it is planned to hold the fifth session of Intergovernmental Ukrainian-Saudi Commission on Trade Economic and Scientific Technical Cooperation. Agriculture, infrastructure and investments are among main spheres, which are of mutual interest among countries, and will be proposed for discussion during the session of Commission”, - emphasized Minister.

In this aspect he emphasized a high potential of development of investment cooperation between two countries, in particular, within realization of investment projects in the sphere of agricultural and industrial complex. Forward procurements of grains are among possible directions of investment cooperation.

“Considering the curtailment of production of agricultural products in Saudi Arabia due to problems with water supplies and dehydration of territories, since 2016 the country transitions to 100% import of agricultural products from foreign countries and investments to foreign agricultural and industrial complexes. Ukraine is among top 10 countries, in cooperation with which Saudi Arabia plans to realize this initiative of King Abdullah, in particular, investing in our agrarian and industrial complex”, Alexei Pavlenko added.