Ukraine, Canada discuss extending Free Trade agreement

Source : 112 Ukraine

Ottawa and Kyiv should prepare the offers for the further development of the economic cooperation between the countries
14:50, 19 October 2018

Ministry of Economic Development and Trade of Ukraine

Today, in Ottawa, the first session of the joint commission on the extension of the Agreement on the Free Trade between Ukraine and Canada will take place. The Ukrainian delegation is headed by First Vice Prime Minister Stepan Kubiv as Ukrinform reported.

The commission should analyze the progress in implementation of the Free Trade Agreement between Canada and Ukraine during the first year of its work and prepare the offers for the further development of the economic cooperation between the countries. Kyiv has already proposed to extend the action of the Agreement in the sphere of investments and services that are not included in the current document.

Related: Ukraine, Israel discuss signing of agreement on free trade

The agreement, signed in June 2016, states that the representatives of two states should meet for the estimation of its efficiency in a year since it came into force.

"Today I work in Ottawa, where we discuss the results of the first year of actions of the Free Trade Agreement with Canada. However, a year is not enough for realizing the poential of such a major deal but we already can see the positive changes: +74,4% to the export of goods from Ukraine to Canada in 2017, +45,8% to the export of goods from Ukraine to Canada during 8 months of 2018; +20,2% to the export of serviced from Ukraine to Canada, mostly telecommunication and IT serves (64%); +34,6% to the export of the service from Canada to Ukraine, mostly the state and governmental services (56%)," Kubiv wrote on Facebook.

Related: Poroshenko, Erdogan discuss free trade between countries

As we reported, Andriy Shevchenko, Ambassador Extraordinary and Plenipotentiary of Ukraine to Canada claimed that Ukraine and Canada are intended to start negotiations about the expansion of the Free Trade Agreement.

The Free Trade Agreement between Canada and Ukraine came into force on 1 August last year. Earlier, Ukraine informed Canada about completion of FTA ratification. The Governor General of Canada confirmed the Canada-Ukraine Free Trade Area Agreement by the signature after the consent of the House of Commons and Senate on June 1.

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