Ukraine plans to step up cooperation with Saudi Arabia in the agrarian sector, invite investors from that country and facilitate their investment in domestic livestock and fishery, as well as boost bilateral trade, according to the Ukrainian Agrarian Policy and Food Ministry`s press service.
”Important tasks are to boost trade between the countries, set up direct contacts between agricultural producers from both countries and incentivize investment from Saudi Arabia in Ukraine`s agrarian, livestock and fishery sectors,” the press service said.
To facilitate bilateral cooperation, Ukrainian Agrarian Policy and Food Minister Taras Kutovyi is going to visit Saudi Arabia and take part in a meeting of the intergovernmental Ukrainian-Saudi Commission for trade and economic and research and engineering cooperation, which is being held on April 3-7, the report said.
In addition to agriculture, the Ukrainian side is also interested in intensifying cooperation with Saudi Arabia in the fields of energy, aerospace, trade, education, medicine, and tourism.
Earlier, Ukraine`s Agrarian Policy and Food Ministry intends to send trade missions to India, the EU and the Middle East this year to market Ukrainian farm produce there.
Earlier, exports of Ukrainian agrarian products rose by 4.5% in 2016 from 2015, to $15.5 billion, (42.5% of Ukraine`s total exports). Shipments of agricultural products abroad in 2015 were estimated at $14.6 billion (38.1%), the Agrarian Policy and Food Ministry said.
Grain crops, vegetable oil, oilseeds, soybeans, sugar, and meat were traditionally export-oriented staples. Among key markets were the Asian countries (45.9% of exports, worth $7 billion), the European Union (27.5% of exports, $4.2 billion), Africa (15.7% of exports, $2.4 billion), CIS countries (7.7% of exports, $1.2 billion), and the United States (0.9% of exports, $45 million).