Saudi–Ukrainian Business Ties Enter Strategic New Phase After Riyadh Talks

Ukraine’s high-level business delegation to Riyadh has revived long-stalled economic cooperation with Saudi Arabia, marking what officials describe as a “strategic new phase” in bilateral relations. According to Yuri Melnyk, Co-Chairman of the Saudi–Ukrainian Business Council, the visit ended a decade-long pause in structured dialogue and delivered the strongest progress in years.
Melnyk said the mission fulfilled commitments made earlier this year between the leaders of both nations, noting that many Ukrainian business figures were visiting the Kingdom for the first time. He confirmed that three major decisions were reached: establishing permanent communication channels between the Business Council and private-sector firms, removing regulatory and procedural barriers to speed up investments, and exchanging detailed investment project portfolios at the Ministry of Investment.
While agriculture remains a central pillar of trade, Melnyk stressed that Ukraine’s greatest strategic opportunities now lie in critical minerals such as graphite, titanium and lithium. Representatives from BGV, a major critical-materials company, showcased mining and processing projects aimed at supporting advanced industries.
The delegation also introduced proposals in pharmaceuticals and medicine, including plans by ADL Group to build light pharmaceutical production facilities within the Kingdom. Meetings with the Saudi Food and Drug Authority outlined clear regulatory pathways for cooperation in this sector.
Agriculture continues to anchor bilateral trade, with companies such as MHP supplying the Saudi market and Saudi investments—including SALIC’s stake in MHP—demonstrating long-term confidence in Ukraine’s food production capacity. Melnyk noted that despite the ongoing war, Ukraine has maintained strong food export levels.
Looking ahead, Ukraine highlighted more than $1 billion in investment-ready projects, with trade potential estimated to reach several billion dollars. Sectors identified for joint growth include energy, green technologies, manufacturing, healthcare, tourism and services. Melnyk emphasized that Ukraine remains open for investment, offering protection agreements and opportunities in regions located away from conflict zones.
A flagship $500 million cluster project—focused on manufacturing, food production and green energy—was presented as ready for immediate development. Both nations, Melnyk said, are strongly committed to deepening investment ties and building a long-term economic partnership. “Ukraine is still alive, we hold on, and we look forward to the future,” he affirmed.