Ukraine and Canada successfully concluded negotiations on free trade between the countries
In the framework of the working trip of Ukrainian Prime Minister Arseniy Yatsenyuk to Ottawa the document on completion of negotiations regarding the establishment of a FTA between Ukraine and Canada was signed on Tuesday, July 14.
Prime Minister of Ukraine Arseniy Yatsenyuk stressed that the signing of this document “opens a new page in bilateral relations between Ukraine and Canada”.
“This should deepen Ukrainian-Canadian cooperation, increase bilateral investment. This is another step to make our country prosperous,” he said.
The provisions of the draft Agreement on free trade between Ukraine and Canada provide, in particular, the deepening of trade and economic cooperation, including trade in industrial and agricultural goods, intellectual property protection and regulation of public procurement.
When the Agreement entries into force Canada makes free access to 98% of its goods market to Ukrainian exporters immediately. But Ukraine completely abolishing import duties will have a transition period before the liberalization of the market.
In the long term for the business the Agreement will be the opportunity to diversify trade flows, will be the impetus to modernize Ukrainian enterprises for the production of goods with high added value for the export to Canada.