A free trade area will be established by Canada and Ukraine

A free trade area will be established by Canada and UkraineUkraine and Canada has signed a free trade agreement on Monday. The agreement was signed in the presence of Ukrainian President Petro Poroshenko and Canadian Prime Minister Justin Trudeau who is staying with a two-day visit in Kyiv. The deal aims to cut 98% of tariffs over the next seven years.

The Agreement is part of Canada's continued commitment to supporting Ukraine's efforts to build a stable, democratic, and prosperous country.

Both Canada and Ukraine are committed to the timely ratification and implementation of CUFTA – so that Canadians and Ukrainians alike can take advantage of its benefits as soon as possible.

In 2015, Canada and Ukraine announced the conclusion of Canada-Ukraine Free Trade Agreement (CUFTA) negotiations.

Read also: Canadian Prime Minister arrived in Ukraine

Canada's International Trade Minister, Chrystia Freeland, and Ukraine's First Vice Prime Minister and Minister of Economic Development and Trade, Stepan Kubiv, also signed the Agreement in Kyiv during Prime Minister Trudeau's first official visit to Ukraine.

Ukraine offers numerous opportunities for Canadian businesses and investors, in areas such as information and communication technologies, agriculture, infrastructure and logistics, aerospace, defence and security, and energy.

Now that the Agreement has been signed, Canada and Ukraine will go through their respective domestic legislative processes to ratify and implement the Agreement.
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