Saudi Arabia, Ukraine strengthen investment ties

Saudi Arabia and Ukraine reaffirmed their strong economic partnership on Tuesday, emphasizing the need to broaden trade and investment cooperation. The announcement followed Ukrainian President Volodymyr Zelenskyy’s visit to Jeddah, where he met with Crown Prince Mohammed bin Salman.

Both nations highlighted a 9 per cent increase in trade during 2024 and underscored the importance of overcoming economic challenges to further boost collaboration. They also welcomed the reestablishment of the Saudi-Ukrainian Business Council in 2025, which will serve as a platform for joint ventures and strategic initiatives.

Discussions explored investment opportunities in sectors such as: energy and oil and gas development, infrastructure and reconstruction, and agriculture and food security.

Saudi Arabia expressed interest in Ukraine’s reconstruction efforts, while Ukraine looked to align joint projects with Saudi Arabia’s Vision 2030 goals.

Beyond economic cooperation, both sides reviewed regional and global developments. Saudi Arabia reaffirmed its support for a just and lasting peace in Ukraine, while Ukraine expressed gratitude for Saudi humanitarian and development aid.

This visit marked a significant step toward strengthening bilateral relations, fostering economic growth, and enhancing strategic collaboration between the two nations.

Attribution: Saudi Press Agency (SPA)

Subediting: Y.Yasser