Ukraine-Canada partnership: Canada begins ratification of free trade deal with Ukraine

10:12 Nov. 4, 2016

Canada begins ratification of free trade deal with Ukraine

Free trade area agreement ceremony between Ukraine and Canada held in Kyiv, Ukraine on July 11, 2016. (GettyImages Photo)

The government has introduced the relevant legislation

Days after signing the long-delayed free trade deal with the EU, the Canadian government has introduced the legislation to implement a similar agreement with Ukraine. This is according to Radio Canada International.

‘We are one step closer to being able to reap the benefits of the Canada-Ukraine Free Trade Agreement (CUFTA), which will generate opportunities for Canadians and Ukrainians alike', International Trade Minister Chrystia Freeland said Thursday.

Watch also: Ukraine signs historic trade deal with Canada

‘It will boost our economies, spur innovation and strengthen the middle class and those working hard to join it', she said.

The free trade agreement was signed by the country's Prime Minister Justin Trudeau and Ukrainian Economy Minister Stepan Kubiv in Kyiv on July 11, 2016, marking Trudeau's first official visit to Ukraine.

Watch also: We Stand With Ukraine: Canada Trade Minister on historic Kyiv-Ottawa Free Trade deal (video)

When the deal enters into force, it will basically remove all tariffs on goods traded between the two countries.

Despite the situation in Donbas and Crimea, the trade between Ukraine and Canada increased by 14 percent in 2015 over the previous year, with almost USD 278 mln in total, the statistics say.

Ukraine imports from Canada various commodities, including pharmaceuticals, fish and coking coal, and exports fertilizers, iron and anthracite coal. 

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