The security of Ukrainian agricultural exports is a matter of both bilateral trade and global food security. Saudi Arabia is one of the key food importers and an important logistics hub in the region, so its support can make a real contribution to maintaining stable supplies of Ukrainian grain to global markets. Minister of Agrarian Policy and Food of Ukraine Taras Vysotskyi stressed this during an online meeting with Saudi Arabia’s Minister of Environment, Water and Agriculture Abdulrahman Al-Fadley.
Deputy Minister Denys Bashlyk and representatives of the relevant departments also took part in the meeting.
In particular, Taras Vysotskyi informed his Saudi counterpart about the consequences of Russian attacks on Ukraine’s port and logistics infrastructure, which create additional risks for agricultural exports and increase their cost.
“Despite the blockade of ports, Ukraine is ready to continue supplying Saudi Arabia with agricultural products, including grain. Saudi Arabia is an important importer of Ukrainian food products, so preserving freedom of navigation and the safe operation of maritime transport corridors is extremely important to us. This is an essential condition for stable Ukrainian agricultural exports and for strengthening global food security. At the same time, increased direct purchases of Ukrainian grain and other agricultural products by key importing countries provide important support for Ukrainian producers and will help maintain stable food supplies to global markets,” Taras Vysotskyi stressed.
The minister added that Ukraine had been exporting around 6 million tonnes of cargo per month through the ports of Odessa region. Even with the maximum use of alternative routes, their capacity can compensate for only part of maritime shipments. At the same time, Russian attacks have already increased logistics costs for Ukrainian agricultural exports by approximately $45 per tonne.
Investment in Ukraine’s agricultural sector was another area of cooperation discussed. The parties agreed to explore holding a joint Ukrainian-Saudi business seminar involving representatives of the private sector. The event is expected to present investment opportunities in Ukraine, particularly in port infrastructure, terminals, agricultural processing and production.
The parties also discussed prospects for expanding the presence of Ukrainian businesses in the Saudi Arabian market, including opportunities for Ukrainian poultry producers and manufacturers of veterinary medicines.
Following the meeting, the parties agreed to continue cooperation at the level of their respective specialized teams, prepare a draft Memorandum of Cooperation, intensify business-to-business contacts, and jointly explore new investment and trade projects.
