Recently, Ukraine and the Kingdom of Saudi Arabia are increasingly intensifying cooperation in various sectors of the economy. The growth of bilateral trade, expansion of investment cooperation, the creation of joint ventures are all the realities of the current bilateral relations between the two countries.
For example, in the agricultural sector, according to the results of January-September last year, Ukrainian exports to the market of the Kingdom amounted to $ 362.9 million, an increase of almost 17% compared to the same period last year.
One of the most significant examples of mutually beneficial cooperation between businesses of both countries was the conclusion, last fall, of agreements on the sale and purchase of most agricultural assets of the agroholding “Mriya”. At the signing of the deal, the new owner of Mriya – SALIC UK Ltd announced its intention to invest significant funds in new equipment, infrastructure, agrotechnologies and consolidation of the land bank.
No less attractive are the outlines of cooperation between Ukraine and the KSA in the defense industry. The Kingdom has almost two hundred thousandths of the armed forces and is traditionally among the top ten in the world in terms of their funding.
Although the main supplier of weapons to the kingdom is traditionally the United States, however, today much of the armament and military equipment previously equipped with units of the royal troops are physically and morally outdated and need to be replaced.
To this end, the country began to develop its own defense production. At the same time, the leadership of the defense sector of the state is increasingly looking at the achievements of Ukrainian gunsmiths, whose considerable experience gained in recent years in a situation of armed conflict in the east of the country, is actually difficult to overlook and ignore.
In this context, during April 21-22, the kingdom was visited by Oleg Vysotsky, Chairman of the Board of Directors of the RPA «Practika», Chairman of the Board of the «League of Defense Companies of Ukraine», and Julia Vysotskaya, Director of the RPA «Practika», External Affairs Director of the «League of Defense Companies of Ukraine». During the visit, business meetings with interested parties of the Saeima were held, talks were held with the Ambassador Extraordinary and Plenipotentiary of Ukraine to Saudi Arabia, Mr. Vadim Vakhrushevym.
According to the visit, the Chairman of the Board of the League noted that potential partners from the Kingdom of Arabia are interested in cooperation in various areas of the defense industry, they are of special interest in the creation of joint Ukrainian-Saudi enterprises focused on the production of modern models of weapons and military equipment.
Oleg Vysotsky also said that the prospects of cooperation between the participating companies of the League and Saudi Arabia can be mutually beneficial, so the search for points of contact for business with this Arab state will continue.