Ukraine today, 11 July, has signed a free trade area agreement (FTA) with Canada. The agreement was signed by First Deputy Prime Minister – Minister of Economic Development and Trade of Ukraine Stepan Kubiv and the Minister of International Trade of Canada Christa Freeland, RBC-Ukraine (RU) reports.
The meeting was also attended by the Prime Minister of Canada Justin Trudeau and the President of Ukraine Petro Poroshenko.
Immediately after the entry into force of the agreement, Canada will open the Ukrainian exporters free access to 98% of its market for goods. Ukraine, in turn, will have a transition period.
In the long term business agreement on an FTA will be an opportunity to diversify trade flows, will give an impetus to the modernization of the Ukrainian enterprises for the production of high quality goods for export to Canada.
“Canada-Ukraine Free Trade Agreement offers new opportunities for both nations.We will continue negotiations to expand scope of the agreement,” posted the President of Ukraine Petro Poroshenko on his Twittter.
He added that the obligation to remove the key trade restrictions will be valid for 7 years.
At the same time, the ministry’s Facebook page published infographics detailing the nature and consequences of the FTA with Canada.
The full presentation is available here.