Saudi Gazette report

RIYADH — A delegation of 40 Ukrainian companies will discuss the prospects of trade and investment partnerships and opportunities in the Saudi market with a group of Saudi companies on Thursday in Riyadh, according to Al Arabiya Business.

The move comes at a time when the volume of trade and investment exchanges between Saudi Arabia and Ukraine is witnessing a significant decline, affected by the repercussions of the Russia-Ukraine war.

The source explained that Ukrainian companies will participate in a meeting of the Saudi-Ukrainian Business Council, which is organized by the Federation of Saudi Chambers at its headquarters in Riyadh. A number of prominent Saudi businessmen will attend the meeting.

The delegation of Ukrainian companies represents vital sectors in the economic cooperation agenda between Saudi Arabia and Ukraine, such as agriculture, food industries, real estate development, information technology and tourism.

Ukrainian companies are looking forward to opening the door to new opportunities in the Saudi market and benefiting from the huge projects offered by Vision 2030.

The volume of trade exchange between Saudi Arabia and Ukraine decreased by 32% in 2022, reaching $428 million compared to 2022.