Tuesday, June 21 2016 20:30 EEST
Ukraine and Canada to sign free trade agreement
Canada, Ukraine, Kiev, agreement, trade, cooperation, relations, free trade zone, industrial, agricultural, goods, protection, purchases, import

They are going to sign the agreement in July.

The signing of the free trade agreement (FTA) between Ukraine and Canada is expected on July 11-12 in Kiev during the visit of the Canadian Prime Minister Justin Trudeau. It was reported by the press service of the Ministry of Economic Development of Ukraine.

The first Deputy Prime Minister, the Minister of Economic Development and Trade of Ukraine Stepan Kubiv noted that the agreement is to start a new stage in trade relations between the two countries.

Trudeau in his turn noted that FTA remains a high priority. In particular, he mentioned this during the Ukrainian-Canadian business forum, which was held in Toronto on June 20.

On July 14, 2015, Ukraine and Canada signed a document on the completion of negotiations on a free trade zone. In particular, the draft of a free trade agreement between Ukraine and Canada provide the deepening of trade and economic cooperation, including trade of industrial and agricultural goods, intellectual property protection and regulation of state purchases.

Canada will open the Ukrainian exporters free access to 98% of its market just after the agreement comes into force. At the same time, Ukraine will have some transitional period before liberalization of its market by full cancellation of import duties. The business agreement will be an opportunity to diversify trade flows. It will be a push for modernization of Ukrainian enterprises and production of high value-added goods for Canadian export.

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