International Trade Minister introduces legislation in Parliament to implement Canada-Ukraine Free Trade AgreementNovember 4, 2016
The following news release was issued by Global Affairs Canada.
November 3, 2016 – Ottawa, Ontario – Global Affairs Canada
The Honourable Chrystia Freeland, Minister of International Trade, today introduced legislation in the House of Commons to implement CUFTA. The legislation will be subject to all required stages of the legislative process. Canada is committed to the timely ratification of CUFTA so Canadians and Ukrainians alike can take advantage of its benefits as soon as possible. When implemented, the Canada-Ukraine Free Trade Agreement will generate opportunities for Canadians and Ukrainians, create new job opportunities, and help to grow the middle class and those working hard to join it.
When CUFTA enters into force, Canada will immediately eliminate duties on 99.9 percent of imports from Ukraine. Similarly, Ukraine will eliminate tariffs on approximately 86 percent of Canadian exports, with the balance of tariff concessions to be implemented over a period of up to seven years. CUFTA will thus eliminate essentially all tariffs on goods currently traded between Canada and Ukraine.
Canada is deeply committed to working with the people of Ukraine to help implement important economic and democratic reforms and to strengthen business ties between the two countries.
“We are one step closer to being able to reap the benefits of the Canada-Ukraine Free Trade Agreement, which will generate opportunities for Canadians and Ukrainians alike. It will boost our economies, spur innovation and strengthen the middle class and those working hard to join it.”
– Hon. Chrystia Freeland, P.C., M.P., Minister of International Trade
- Minister Freeland and Stepan Kubiv, Ukraine’s First Vice Prime Minister and Minister of Economic Development and Trade, signed the agreement in Kyiv, Ukraine, on July 11, 2016, during Prime Minister Justin Trudeau’s first official visit to the country.
- The Ukrainian market offers many opportunities for Canadian businesses and investors, in areas such as aerospace, agricultural equipment, information and communication technologies, agriculture and agri-food, fish and seafood and mining equipment.
- In 2015, bilateral trade between Canada and Ukraine increased by 14 percent over 2014, totalling almost $278 million. Of this, Canada’s exports to Ukraine totalled approximately $210 million. Canadian products exported included pharmaceuticals, fish and seafood, and coking coal.
- Canada’s merchandise imports from Ukraine totalled more than $67 million in 2015. Major imports included fertilizers, iron and steel, and anthracite coal.
- Canada-Ukraine Free Trade Agreement
- Canada-Ukraine relations
- Canada signs landmark free trade agreement with Ukraine
Office of the Minister of International Trade
Media Relations Office
Global Affairs Canada
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