Today Canada-Ukraine Free Trade Agreement (CUFTA) was signed. This will provide many benefits the Canada–Ukraine bilateral relationship and new opportunities for businesses in both countries, thus a splash in economy is expected.
This was announced by the Prime Minister of Canada Justin Trudeau on a joint press conference after the meeting with President of Ukraine Petro Poroshenko.
The document was signed in the presence of the President of Ukraine Petro Poroshenko and the Prime Minister of Canada Justin Trudeau, who is now in Kyiv on his two-day visit. According to the President the Agreement shall come into force immediately and will be fully implemented within next 7 years.
"The agreement will facilitate the access to the market, create a predictive regime on the market. We have agreed on all legal aspects of the agreement. This will create conditions for predictability in our relations. Eliminating barriers both countries will benefit from this agreement. Creation of new jobs, opening of the new markets, this will contribute to improving the level of life and will give a surge in the development for our economies, "- said Trudeau.
Immediately after the entry into force of the agreement Canada will open the Ukrainian exporters free access to 98% of its goods market.
Ukrainian President mentioned that in spite of long distance between the two countries, Ukraine always feels Сanada's companionship.
"I am sure that with close historical ties and common values Canadian-Ukrainian relations will be dynamically developing."
"I am grateful to Justin Trudeau and Canadian people for their constant support. We value greatly political, economic and humanitarian assistance."
"Canada-Ukraine Free Trade Agreement offers new opportunities for both nations.We will continue negotiations to expand scope of the agreement."