REUTERS
In the course of the official visit of President of Ukraine Petro Poroshenko to the Kingdom of Saudi Arabia, a series of documents on bilateral cooperation have been signed, including a memorandum between the Cabinet of Ministers of Ukraine and the Government of the Kingdom of Saudi Arabia on investment cooperation in agriculture, the presidential administration's press service reports.
The Memorandum legislatively determines specific directions of bilateral investment cooperation in the agricultural sector and mechanisms for encouraging investment in agriculture through the exchange of information on the investment environment in this field, including agrarian policy, rules and regulations on investment attraction, tax regulation, potential investors and their needs, as well as presence of investment companies that intend to engage in the agricultural sector and ongoing programs of investment support.
The press service of the Ministry of the Agrarian Policy and Food of Ukraine added that the supplies of agricultural products from Ukraine to Saudi Arabia made up for about 80% of the total volume of domestic exports to this state.
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Ukraine's major exports to Saudi Arabia include grain ($254 million), vegetable oil ($25.2 million), meat and offal ($11 million), and poultry eggs ($1.6 million).