Saudi Arabia, Ukraine highlight strong economic ties, joint cooperation

JEDDAH, March 11 (KUNA) -- Saudi Arabia and Ukraine praised their close economic ties and underscored the importance of joint efforts to expand trade and investment, according to a joint statement issued at the conclusion of Ukrainian President Volodymyr Zelensky's official visit to Jeddah.
The Saudi Press Agency (SPA) reported that both sides welcomed the re-establishment of the Saudi-Ukrainian Business Council as part of their commitment to enhancing trade and investment relations.
The statement emphasized the two countries' determination to foster promising investment and economic partnerships in key sectors, including energy, food industries, and infrastructure.
Both sides agreed on the need to overcome challenges hindering trade relations, intensify official and business delegation visits, and encourage joint projects, particularly those aligned with Saudi Vision 2030 and Ukraine's reconstruction programs.
They also agreed to facilitate direct engagement between the public and private sectors through workshops, investment forums, and business events aimed at fostering a conducive investment environment and addressing obstacles faced by investors.
In the energy sector, both countries expressed interest in exploring cooperation in oil, gas, petrochemicals, and their derivatives, and they also emphasized the importance of expanding private-sector partnerships in agriculture.
Beyond economic matters, the statement noted that Saudi Crown Prince and Prime Minister Mohammad bin Salman received President Zelensky on Monday at Al-Salam Palace in Jeddah. During their official talks, both leaders exchanged views on regional and global issues and reaffirmed their commitment to strengthening bilateral relations across various fields.
The statement also highlighted Saudi Arabia's efforts to achieve a lasting, just, and comprehensive peace in Ukraine, expressing hope that these efforts will contribute to resolving the crisis in accordance with international law and the United Nations Charter, including respect for sovereignty and internationally recognized borders.
Saudi Arabia further reiterated its humanitarian support for Ukraine, while President Zelensky expressed gratitude for the Kingdom's aid and development assistance.
The Ukrainian president congratulated Crown Prince Mohammed bin Salman on Riyadh's successful bid to host Expo 2030 and Saudi Arabia's selection as the host country for the 2034 FIFA World Cup. (end) fn.dss