The President of Ukraine Petro Poroshenko commented on the entry into force of the Agreement between Ukraine and Canada on the Free Trade Area (FTA). According to the president, the document opens the window of the colossal opportunities for the Ukrainian business in trade, state purchases and the e-commerce.
‘It is more important than just the agreement. It is the eloquent and the symbolic gesture of the support; it is the outstanding demonstration of the special partnership that grows strong between our states that are geographically distant but so close spiritually, our countries with the similar values and strivings. I sincerely congratulate Ukraine and Canada on the new page of our relations’, the president wrote this at Facebook.
The Agreement of Free Trade Area between Ukraine and Canada was signed on July 11, 2016, in Kyiv. The Verkhovna Rada of Ukraine ratified it on March 14, 2017. The President of Ukraine Petro Poroshenko signed it on April 3, 2017.
It is expected that the agreement will abolish 98% of the tariffs on the Ukrainian products that are exported to Canada since the August, 1. 72% of the tariffs will be abolished for the Canadian products and the duty-free export will grow for 98% during seven years.
Moreover, the FTA mutually opens the markets of the state purchases. Some parts of the agreement protect the e-commerce and the intellectual property.