The law on ratification of Free Trade Agreement (FTA) between Ukraine and Canada enters into force. The law was published in the official edition of parliament’s newspaper "Golos of Ukraine" on April 5.
This agreement was signed on July 11, 2016 during the visit of Canadian PM Justin Trudeau to Ukraine.
According to the document, the agreement comes into force on the first day of second month after the latter party receives the notification about completion of the process necessary for its implementation.
As it was reported in the presidential administration after Ukraine’s president signed the according law, Canada will open 98% of its market for Ukrainian exporters being the subject of bilateral trade, after FTA comes into effect. Taking into account different level of economic and social development of Ukraine and Canada, sides will be applying the principle of asymmetry of tariff obligations, which would allow Ukraine to adapt trading process with this country in terms of free trade.
The document contains a number of norms and commitments, which are instrumental to remove the unjustified barriers in the trade sector.