Ukraine, Canada discuss opportunities for strengthening bilateral relations

Tuesday, July 12, 2016 - 12:36 (EEST) Section: Latest news

Ukrainian Prime Minister Volodymyr Groysman said a free trade agreement between Ukraine and Canada, which the two parties signed in Kyiv on July 11, would help bring the two countries` markets closer, resulting in an increase in production and trade.
”We have much room for cooperation – in the economic sector, in support of reforms, and other areas. The free trade zone makes it possible to bring our markets closer. This means trade and new jobs. We are very interested in this,” Groysman said yesterday, July 11, following talks with Canadian Prime Minister Justin Trudeau.
Groysman also noted that a major Ukrainian-Canadian business forum was held in Toronto in late June, which added impetus to expanding bilateral relations.
As UNIAN reported earlier, Ukraine and Canada have signed the free trade agreement.
Ukraine`s Ministry of Economic Development and Trade estimates that the free trade agreement will clear the way for the removal of trade restrictions and complete elimination of trade tariffs for key groups of products within three to seven years.
In particular, trade tariffs on fish, grains, wine, juices, baked goods, as well as clothing, metal products, and electrical components, will be eliminated immediately after the agreement has entered into force.
Exempt from duties for the next three to seven years will be certain agricultural products, as well as construction materials and engineering products, including components for aircraft, cars and tractors. In addition, the document provides an opportunity for Ukrainian and Canadian companies to participate in public procurements in both countries.
On June 20, Toronto hosted the first Canada-Ukraine Business Forum, which brought together more than 400 participants. The Ukrainian delegation was headed by First Deputy Prime Minister Stepan Kubiv, who presented the Ukrainian government`s most important accomplishments in recent months, as well as plans for further deregulation and privatization.