JEDDAH — Ambassador of Ukraine to The Kingdom of Saudi Arabia Vadym Vakhrushev said the commercial and political relations between Saudi Arabia and Ukraine are good and grow continuously.
Trade volume in the last period exceeded $1 billion and $200 million in 2014 as well as the last year, 2015. The volume of trade, certainly, will increase, especially that the volume of exports from Ukraine to Saudi Arabia exceeded $800 million. These exports are related to the agricultural area, including cereals, oils and other exports. Furthermore, Ukraine exports to Saudi Arabia from 40 to 70 percent of iron.
Vakhrushev said that they are optimistic that, in 2016, the commercial and economic relations between the two countries will be solid and strong, and during this year, broad partnerships and giant investments will be established, in the presence of agreements to protect and encourage investments between the two countries.
He pointed out that changing laws related to trade and investment in Ukraine will increase the Saudi turnout to invest there in various agricultural, industrial, real estate and tourism fields, as those laws are becoming more flexible, transparent and clear. They aim to promote the economy of Ukraine under the umbrella of its new young government that is keen to attract investments into the country.
Vadim Vakhrushev predicted that the rate of Saudi investments in Ukraine will increase by more than 30 percent during this year, especially since China, United States and other two countries currently are seeking to invest in Ukraine. He stressed that United States, Netherlands and Germany are considered the largest investors in Ukraine nowadays in the agriculture and industrial sector, especially spare parts and information technology.
During a press conference held in Riyadh, the Ukrainian Ambassador announced the first meeting of businessmen from Ukraine and Saudi Arabia to be held in Riyadh, by an initiative from the private sector companies, to be held on Feb. 1 in Al-Khuzami hall. It is a meeting aiming to introduce the most important investment areas in Ukraine. He invited the most prominent Saudi businessmen to attend the meeting to be familiar with the opportunities available there in Ukraine, especially in the agriculture field in general, and industrial, real estate and tourism areas in particular, especially after the Saudi authorities lifted the embargo on poultry imports from Ukraine.
Vakhrushev added that meeting of Ukrainian businessmen in Riyadh during next February aims to create a suitable environment for the successful negotiations and direct contacts between them. He stated that Saudi businessmen have a clear future vision and large foreign investments, as the Saudi economy is one of the strongest economies globally, especially, in light of the current surrounding crisis, and that will not adversely affect progress of the Saudi economy and its diversity as well as increase of the investments volume.
In addition, Vakhrushev talked about easiness of getting visa for Saudi individuals and families as well as medical tourism, as there are many of the world's five-star clinics in Ukraine, in several areas, in the countryside, and most of them are specialized in orthopedics, nephrology and liver as well as the treatment of polio and other critical areas.
General Manager of Istiqtab Investment International Company, Ahmed Hassan Al-Baijan, said the objective of organizing this meeting, between the businessmen of the both countries, is to enhance commercial relations and provide investment opportunities at the beginning of this year, 2016, especially that, Ukraine is considered an attractive and rich environment for agricultural, industrial, real estate and tourism investment opportunities as well as other areas. He moreover said there are significant investments between the two countries, and that this meeting comes to enhance confidence, offer opportunities and to invite Saudi businessmen to visit Ukraine and look at the most important available investments.
Buaijan added that the meeting will last one day on February 1st, and a number of visits for delegation of Ukrainian businessmen of 20 persons will be coordinated to several places in Riyadh. – SG
