16:17 10.08.2020

Ukraine, Saudi Arabia discuss mutual trade, investment development

2 min read
Ukraine, Saudi Arabia discuss mutual trade, investment development

Foreign Minister of Ukraine Dmytro Kuleba and his Saudi counterpart Prince Faisal bin Farhan Al Saud have discussed in a phone conversation trade development and investment cooperation between their countries, as well as a possibility of simplification of the procedure of entering Saudi Arabia for some categories of Ukrainian citizens.

According to the press service of the Foreign Ministry of Ukraine, Kuleba suggested reviving political consultations online between the foreign ministries of Ukraine and Saudi Arabia for the first time over eleven years. His Saudi counterpart agreed to start preparations for the consultations.

The ministers also focused on trade development and investment cooperation between Ukraine and Saudi Arabia, which, in the opinion of Prince Faisal bin Farhan Al Saud, has a huge potential.

"Ukraine expects a new impetus for the development of trade and investment cooperation with Saudi Arabia. I believe fulfilment of the potential for trade and economic cooperation will bring noticeable benefits to our countries," Kuleba said.

The minister also discussed possible steps for further simplification of the procedure of entering the kingdom for certain categories of Ukrainian citizens.

The Saudi minister also accepted Kuleba's invitation to visit Ukraine.

"Dmytro Kuleba also confirmed the invitation of Ukrainian President Volodymyr Zelensky to King [of Saudi Arabia] Salman bin Abdulaziz and Crown Prince Mohammad bin Salman to visit Ukraine and was assured that the invitation will be considered as soon as the COVID-19 quarantine restrictions are cancelled," the press service said.

Saudi Arabia is one of Ukraine's important partners in the Persian Gulf. The volume of trade with Saudi Arabia in 2019 was estimated at almost $920 million.

From September 28, 2019, Saudi Arabia introduced multi-entry tourist visas for citizens of 49 countries, including Ukraine.

From August 1, 2020, Ukraine introduced visa-free travel regime from Saudi Arabia citizens.

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