Ukraine and Canada update Free Trade Agreement
Kyiv • UNN
The updated Free Trade Agreement between Ukraine and Canada strengthens trade and economic cooperation between the two countries. We are also talking about facilitating temporary entry for Ukrainian service providers and promoting a free digital economy.
Today, on June 26, the Minister of economy of Ukraine Yulia Sviridenko and the Minister for Export Promotion, International Trade and economic development of Canada Mary Ng updated the agreement on free trade, writes UNN.
The updated Free Trade Agreement between Ukraine and Canada (CUFTA) comes into force on July 1. The updated CUFTA should benefit employees, businesses and consumers in both countries by strengthening trade and economic cooperation between Canada and Ukraine. The agreement itself will preserve the conditions of market access for goods from the 2017 agreement, and there will also be new sections on investments, services and inclusive trade.
The updated Free Trade Agreement between Ukraine and Canada is a symbol of Canada's continued support for our struggle and economic sustainability. I am convinced that it will strengthen trade and economic cooperation between Ukraine and Canada, strengthen our economic partnership and promote the participation of Canadian companies in the economic recovery and reconstruction of Ukraine. This is without exaggeration a historic event, because this agreement is one of the most modern in the world. This is the first agreement that clearly shows that Ukraine shares the trade agenda of Canada, the United States, the EU, Japan and our other partners
The updated CUFTA is the first free trade agreement to focus on Crimea and the Crimean Tatars and strengthen the role of indigenous peoples in the economy and international trade. This is the basis for the economic development of Crimea after the liberation of the peninsula from the invaders.
Key advantages of the updated Free Trade Agreement between Ukraine and Canada: liberalization of the services market on the negative list. employees of Ukrainian companies that will provide services in Canada will be able to apply for temporary entry to Canada under simplified and extended conditions.
The agreement will help Ukraine build a free and open digital ecosystem of the economy. For goods exported to Canada without duties, it will be possible to use components from the EU, Britain, and Israel.
An important place in the agreement is occupied by issues related to the environment, labor, transparency and responsible business conduct.
recall
According to estimates of the Ministry of economy, 40% of the Ukrainian economy is "in the shadows". Obviously, this also applies to the agricultural sector and the export of agricultural products.
