Ukraine and the Kingdom of Saudi Arabia agreed on cooperation in the agrarian sphere. Due to export of domestic barley to this country, Ukraine will be able to additionally receive about USD 1.5 billion annually for development of agriculture, agrarian minister Mykola Prysiazhniuk said, UKRINFORM reported citing the ministry's press office.

“The Kingdom of Saudi Arabia is the country having sufficient possibilities for investments. Second, two years back, the country took a strategic decision to suspend subsidies for growing barley on its territory. This speaks about the fact that a stable supplier of this culture is necessary, since Saudi Arabia annually imports about 8 million tons of barley. And we are ready to be full-fledged partners in this direction,” the official has said.

To remind, during a visit of the Ukrainian delegation to Saudi Arabia negotiations with Finance Minister of the Kingdom Ibrahim Al Assaf took place, during which the issues of the banking sphere were considered and attractiveness of Ukraine for investments.

The Ukrainian Minister also met with Chairman of the Saudi part of the Intergovernmental Ukrainian-Saudi Commission Jabar Bin Id Al Saraisari with whom plans were adjusted about the signature of agreements, in particular, in the sphere of agriculture, cattle breeding and fishery, as well as on supply of separate types of agricultural products.

“At the beginning of June this year, Ukraine will be visited by representatives of the Saudi Arabia agrarian sector, in order to start cooperation. An agreement will be concluded on forward purchases, the first contract of which provides for 4 million tons of barley. On the whole, such cooperation will allow attracting about USD 1.5 billion for development of the agrarian sector of our state,” Prysiazhniuk informed.

The parties agreed to hold a current meeting of the Intergovernmental Ukrainian-Saudi Commission on trade-economic and technical cooperation in Q4, 2012.

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