On November 24-25, a Ukrainian government and business delegation paid an official visit to the Kingdom of Saudi Arabia, during which the first meeting in a decade of the Joint Council for Business Cooperation between the two countries took place. The Ukrainian part of the Council was headed by MHP – an international company in the field of food and agrotechnologies, which is a key investor and also provides half of Ukrainian exports to the KSA market.
The decision to resume the activities of the Joint Council was supported by the President of Ukraine Volodymyr Zelenskyy and Crown Prince Mohammed bin Salman during a meeting in March 2025 in Riyadh. The resumption of this mechanism's work became an important step towards forming a new architecture of strategic partnership between the countries.
During the meeting of the Joint Business Council, the Ukrainian side presented a portfolio of investment projects with a total value of over $1 billion. These include initiatives in the fields of agro-industry, medicine, engineering, critical materials, logistics, retail, and the creation of industrial parks – areas that correspond to the goals of the Kingdom's "Vision 2030" program.
Representatives of the Ukrainian business delegation also joined the work program of Andriy Telyupa, Deputy Minister of Economy, Natural Resources, and Agrarian Policy of Ukraine. In particular, during a meeting with Deputy Ministers of Investment of the Kingdom, representatives of Ukrainian business presented investment projects and held a constructive discussion on the prospects for expanding bilateral relations.
Also, part of the delegation took part in negotiations with the leadership of the Saudi Food and Drug Authority (SFDA), discussing the resumption of Ukrainian chicken exports to the KSA market after the lifting of epizootic restrictions, the accreditation of Ukrainian pharmaceutical manufacturers, and the coordination of online audit procedures to confirm the compliance of production facilities.
"Ukraine is going through a difficult period in its history, but we have not stopped – we have adapted. The economy continues to work, the financial system remains stable. This is evidence not only of our resilience but also of our unwavering determination to move forward. We are convinced that the potential for cooperation between our countries significantly exceeds current indicators. That is why the Joint Business Council should become a mechanism that will open access to this potential," emphasized Yuriy Melnyk, head of the Ukrainian part of the Council, Deputy Chief Executive Officer of MHP for Sustainable Development.
The Ukrainian component of the Business Council unites committees on agro-industry, medicine, engineering, critical materials, IT, logistics, energy, and industrial parks. The delegation included leaders of companies that form more than 4% of Ukraine's GDP and provide jobs for about 180,000 employees: MHP, BGV, Epicenter, Dobrobut, Interkhim, Darnitsa, Kernel, SoftServe, Orion.Group.
Mykhailo Bno-Airiian, Director of International Cooperation at MHP and Secretary General of the Business Council, emphasized that the return of the Ukrainian delegation to Riyadh after more than a decade symbolizes a new stage in the development of economic relations between the countries.
"Eleven years ago, I first came to Saudi Arabia as part of an official delegation, and even then we talked about the importance of investment cooperation. Today I return as a representative of Ukrainian business – and we have brought with us the best companies, the strongest committees, and concrete proposals for the development of bilateral economic relations," emphasized Mykhailo Bno-Airiian.
In total, more than 40 leading KSA companies took part in the meeting of the Joint Council for Business Cooperation Ukraine – Saudi Arabia. Saudi partners expressed interest in cooperation in the fields of food, pharmaceuticals, logistics, critical materials, engineering, and energy. Participants working in the investment, development, and infrastructure segments showed particular activity.