The Memorandum was signed during the official visit of President of Ukraine Petro Poroshenko to the Kingdom of Saudi Arabia, the press service of the Agrarian Policy Ministry reports.
On behalf of the Ukrainian government, the Memorandum was signed by First Deputy Policy and Food Minister Maksym Martyniuk.
“The intergovernmental document at the legislative level defines specific areas of bilateral investment cooperation in the agricultural sector and procedures for encouraging investments in agriculture. In particular, the parties will exchange information on the investment environment, including agrarian policy, rules and regulations on attracting investments, tax regulation, potential investors, indicating their needs, as well as the availability of investment companies that intend to carry out activities in the field of agriculture and the existing investment programs,” reads the statement.
Also, it is noted that agriculture is a key component of the trade and economic cooperation between the countries and the share of agricultural products in overall Ukraine’s exports to Saudi Arabia is the largest.