: :inin Kyiv (EET)

Lower House of Canadian Parliament ratifies free trade area deal with Ukraine


The Lower House of Canada`s Parliament has unanimously ratified the agreement on a free trade area with Ukraine, Ukraine`s Trade Envoy Natalia Mykolska wrote on Twitter Wednesday.

”The Lower Chamber of the Parliament of Canada unanimously ratified the Free Trade Agreement. Then goes the ratification by the Canada Senate. We work very closely with the Verkhovna Rada on ratification,” she said.

As UNIAN reported earlier, the Ukraine-Canada FTA deal was signed off July 11, 2016.

November 17, President of Ukraine Petro Poroshenko submitted to the Verkhovna Rada a draft law ”On ratification of the Agreement on a free trade area between Ukraine and Canada,” to determine the status of the document as urgent. The deal`s Implementation will allow Ukrainian producers to take advantage of duty-free access to the Canadian market. The Agreement will enter into force one month after the completion of all legal procedures in both countries.

The FTA will mean the removal of trade restrictions and the total abolition of trade tariffs for major product groups within the grace period of three to seven years. In particular, once the agreement enters into force, trade duties shall be canceled on fish, grains, wine, juices, baked goods, as well as clothing, metal products, and electrical components. Within three to seven years, the duties will also be abolished on meat, eggs, vegetables, dairy products, and construction materials, engineering products, including components for aircraft, cars and tractors. In addition, the document provides for an opportunity for Ukrainian and Canadian companies to participate in public procurement in both countries.

UaPositon

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