Saudi Arabia and Ukraine have emphasized the strength of economic ties and the significance of joint cooperation to boost trade exchange.
Furthermore, both sides welcomed the re-establishment of the Joint Saudi-Ukrainian Business Council in 2025, underscoring their commitment to fostering investment partnerships across vital sectors, according to the Saudi Press Agency (SPA).
Robust Trade Ties
In a joint statement, following the visit of the Ukrainian President, Volodymyr Zelensky, to Saudi Arabia, both sides hailed the strength of their economic relations, pointing to the importance of joint cooperation to boost trade exchange, which grew by 9% in 2024.
Furthermore, Saudi Arabia and Ukraine agreed on addressing challenges to enhance trade relations. They also reiterated the importance of increasing official visits and visits of mutual business and investment delegations, in addition to promoting joint projects and exploring opportunities in both countries. This includes projects of Saudi Vision 2030 and Ukraine’s reconstruction program.
Both countries also welcomed the re-establishment of the Joint Saudi-Ukrainian Business Council in 2025.
Investment Partnerships
According to the joint statement, Saudi Arabia and Ukraine affirmed their determination to enhance investment relations through forging investment and economic partnerships in priority sectors in both countries, including energy, food industries and infrastructure.
Moreover, they encouraged continuous communication between the public and private sectors in both countries through workshops, mutual visits, joint investment forums and events, empowering the private sector, creating investment-friendly environment, and addressing challenges to investors.
The two countries expressed their aspirations to explore opportunities for joint cooperation in the fields of oil, gas and petrochemicals. They also welcomed expanding the involvement of both countries’ private sectors in investment partnerships in agriculture and food industries.
Supporting Peace in Ukraine
Saudi Arabia and Ukraine discussed the latest regional and international developments and issues of mutual interest, stressing their determination to strengthen cooperation and coordination towards them. Moreover, both countries reviewed efforts to achieve comprehensive, just and lasting peace in Ukraine.
In the light of this, Saudi Arabia expressed hope that these efforts would succeed in ending the Ukrainian crisis in line with international law and the United Nations Charter. This includes respect to the principles of sovereignty and internationally recognized borders, in a way that leads to ending its negative consequences on international security and stability, stopping the human suffering of civilians, achieving nuclear and food security, environmental protection, and demining of territories.
The Ukrainian side expressed appreciation to the Kingdom’s efforts in that regard, thanking Saudi Arabia for the humanitarian and developmental aid provided to Ukraine.
Zelensky in Saudi Arabia
The Ukrainian President, Volodymyr Zelensky, arrived in Jeddah on Monday. He met with the Saudi Crown Prince and Prime Minister, Mohammed bin Salman. During their meeting, both leaders reviewed bilateral relations and discussed the latest developments in the Ukrainian crisis.
The Saudi Crown Prince emphasized the Kingdom’s commitment to supporting all international efforts aimed at addressing the crisis and achieving peace.
Meanwhile, Zelensky expressed his gratitude to Saudi Arabia for its efforts and pivotal role in the Middle East and across the world.
Following the meeting, the Ukrainian President expressed his gratitude for the Saudi Crown Prince. “I am grateful for his wise perspective on global affairs and support for Ukraine,” he wrote on X. He also commended Saudi Arabia’s efforts to advance peace. “I acknowledged the Crown Prince’s efforts in bringing true peace closer. Saudi Arabia provides a crucial platform for diplomacy, and we appreciate this,” he said.
US-Ukraine Talks
Saudi Arabia is hosting on Tuesday key talks between US and Ukrainian officials in Jeddah to end the Ukrainian crisis. The US Secretary of State, Marco Rubio, is leading the US delegation which also includes the US National Security Adviser, Mike Waltz.
Meanwhile, the Ukrainian delegation is led by the Foreign Minister, Andriy Sybiha, and Defense Minister, Rustem Umerov. Zelensky is not taking part in the talks.
