Ukraine, saudi arabia to step up economic cooperation
08 April 2008
Published in Interfax
Ukraine and Saudi Arabia are planning to step up economic cooperation by creating joint ventures and increasing trade, Ukrainian First Deputy Premier Oleksandr Turchynov and Saudi Arabian Transport Minister Jubarah Suraisry have said.
They were speaking during the opening of the third meeting of the Ukrainian-Saudi Arabian intergovernmental commission on trade-economic and scientific-technical cooperation in Riyadh on Tuesday.
Ukraine and Saudi Arabia are planning to step up economic cooperation by creating joint ventures and increasing trade, Ukrainian First Deputy Premier Oleksandr Turchynov and Saudi Arabian Transport Minister Jubarah Suraisry have said.
They were speaking during the opening of the third meeting of the Ukrainian-Saudi Arabian intergovernmental commission on trade-economic and scientific-technical cooperation in Riyadh on Tuesday.
"The Ukrainian delegation is ready to make every
effort to obtain results from the commission's work,"
Turchynov said.
"The Saudi party will do everything to implement the agreements reached during the meeting," the transport minister said.
The parties said trade between the countries was worth $500 million in 2007, adding that this sum does not meet the potential for bilateral cooperation.
Turchynov said grain, butter and metals are the main items to be exported to Saudi Arabia. He said these goods are being influenced by globalization, and called for increasing the range of exports and imports. He also called for the development of engineering and space projects by the two countries.
"The small number of export and import operations jeopardises bilateral economic cooperation. It is necessary to increase the list of export and import operations," Turchynov said.
He said particular attention should be paid to developing business cooperation.
Turchynov invited Saudi Arabia to invest in projects in preparing for and hosting the finals of the Euro 2012 European Football Championship in Ukraine.
He also said that Ukrainian companies could take part in developing Saudi Arabian insfrastructure, in particular, in the coal-mining and transport sectors.
Turchynov described as promising the military and technical cooperation between the two countries, as well as cooperation in the space sector.
"The Saudi party will do everything to implement the agreements reached during the meeting," the transport minister said.
The parties said trade between the countries was worth $500 million in 2007, adding that this sum does not meet the potential for bilateral cooperation.
Turchynov said grain, butter and metals are the main items to be exported to Saudi Arabia. He said these goods are being influenced by globalization, and called for increasing the range of exports and imports. He also called for the development of engineering and space projects by the two countries.
"The small number of export and import operations jeopardises bilateral economic cooperation. It is necessary to increase the list of export and import operations," Turchynov said.
He said particular attention should be paid to developing business cooperation.
Turchynov invited Saudi Arabia to invest in projects in preparing for and hosting the finals of the Euro 2012 European Football Championship in Ukraine.
He also said that Ukrainian companies could take part in developing Saudi Arabian insfrastructure, in particular, in the coal-mining and transport sectors.
Turchynov described as promising the military and technical cooperation between the two countries, as well as cooperation in the space sector.