Saudi Arabia and Ukraine Reaffirm Strong Economic Ties, Commit to Expanding Bilateral Cooperation
Jeddah, The Gulf Observer: Saudi Arabia and Ukraine have reiterated their commitment to strengthening their economic partnership and expanding trade and investment cooperation, as highlighted in a joint statement following Ukrainian President Volodymyr Zelenskyy’s state visit to the Kingdom on Tuesday.
During the visit, President Zelenskyy held official discussions with Saudi Crown Prince and Prime Minister Mohammed bin Salman, where they reviewed the distinguished relations between the two countries and explored ways to enhance cooperation in various sectors. The Ukrainian president also extended his congratulations to the Crown Prince on Riyadh’s successful bid to host the World Expo 2030 and the Kingdom’s selection as the host for the FIFA World Cup 2034.
The two sides emphasized the importance of joint action to develop the volume of trade exchange, which saw a 9% growth in 2024. They also agreed on the need to overcome challenges in trade relations, intensify official visits, facilitate mutual trade and investment delegations, and encourage the establishment of joint projects. The discussions also covered opportunities within Saudi Arabia’s Vision 2030 initiatives and Ukraine’s reconstruction programs.
Notably, both countries welcomed the reestablishment of the Saudi-Ukrainian Joint Business Council in 2025, which is expected to serve as a platform for fostering deeper commercial ties and investment opportunities.
In the investment sector, the leaders affirmed their determination to enhance relations by creating promising economic partnerships in priority industries, including energy, food industries, and infrastructure. They welcomed ongoing communication between public and private sectors, advocating for workshops, exchange visits, joint investment forums, and initiatives to create a favorable business environment.
Saudi Arabia and Ukraine also agreed on expanding private sector involvement in agricultural and food industries, recognizing the importance of cooperation in agriculture and food security. The two leaders further discussed potential collaboration in oil, gas, petrochemicals, and their derivatives.
On international affairs, the two sides exchanged views on regional and global developments, affirming their commitment to enhancing cooperation and joint coordination on matters of mutual interest. They reviewed efforts to achieve a comprehensive, just, and lasting peace in Ukraine, with Saudi Arabia expressing its hope for a resolution aligned with international law and the UN Charter, ensuring sovereignty, territorial integrity, and stability. The statement also highlighted the need to end human suffering, achieve nuclear and food security, protect the environment, and support demining efforts.
President Zelenskyy expressed appreciation for Saudi Arabia’s humanitarian and development aid to Ukraine, acknowledging the Kingdom’s role in mediating peace efforts.
At the conclusion of his visit, President Zelenskyy extended his gratitude to Crown Prince Mohammed bin Salman for the warm reception and hospitality and conveyed his best wishes for the continued progress and prosperity of the Saudi people. In return, the Crown Prince extended his well wishes to President Zelenskyy and the Ukrainian nation.
