Ukraine’s Foreign Ministry officially informed Ottawa about the completion ratification procedure free trade agreement between Canada and Ukraine by Ukrainian side.
This was reported by Ukrinform with the reference to the Embassy of Ukraine in Canada.
The document will take effect when it is approved by the Senate of Canada and signed by the Governor General. It is expected to happen in May, according to the message.
Earlier it was reported that Verkhovna Rada of Ukraine voted for ratification of the Free Trade Agreement with Canada o March 14 at the plenary session.
According to the estimates, the implementation of the agreement shall lead to trivial losses for the state budget, specifically 1.2 million dollars a year due to the import duty cancellation. At the same time the shortfall is expected to be compensated at the expense of the VAT and the inflow increase of foreign direct investment in midterm perspective.
