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Ukraine-Canada free trade agreement comes into force
01.08.2017 11:58 "Agro Perspectiva" (Kyiv) —
The free trade agreement between Ukraine and Canada officially comes into force as of this year Aug 1, and Canada will now cancel customs duties on 99.9% of Ukrainian imports, Ukrinform reports.
«Canada made a present to us on the Constitution Day: we received a government note on the completion of all internal procedures for the entry into force of the free trade agreement,» Ukrainian Ambassador to Canada Andriy Shevchenko said, announcing the launch of the free trade area.
As to the report, Shevchenko reminded that since this year Aug 1, the agreement cancels 98% of tariffs for Ukrainian goods that will be sold to Canada. Some 72% of tariffs are immediately canceled for Canadian goods, and in the next seven years duty free exports will grow to 98%. The agreement also mutually opens up public procurement markets. Certain sections of the document protect e-commerce and intellectual property.
It is to be reminded, the agreement was signed on last year Jul 11 within a visit by Canadian Prime Minister Justin Trudeau to Kyiv.
In meanwhile, the Ukrainian Ministry for Economic Development and Trade forecasts that within the short-term the Ukrainian producers of sunflower oil, confectionery, alcoholic beverages and beer, juices, clothing, ceramics, as well as Ukrainian metallurgical and chemical plants, will benefit from the free trade agreement with Canada.
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