Copyright © 2024

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

Ukraine, Canada sign new Free Trade Agreement

After five years of talks, Ukraine and Canada cemented an upgraded trade relationship that expands market access for companies on both sides.
Canada Trudeau Ukraine zelenskyy
Ukrainian President Volodymyr Zelenskyy and Canadian Prime Minister Justin Trudeau on 22 September 2023 in Ottawa. Credit: President’s Office
Ukraine, Canada sign new Free Trade Agreement

Ukraine and Canada signed a new free trade agreement on Friday, 22 September, replacing the previous agreement that had been in effect since 2017, Ukrainian President Volodymyr Zelensky announced at a joint press briefing with Canadian Prime Minister Justin Trudeau, reported.

“This agreement will become the basis for rebuilding Ukraine,” Zelenskyy said.

The Ministry of Economy previously explained that the main differences in the new agreement are that in addition to eliminating tariffs, Ukraine and Canada are expanding opportunities for companies that have not only Ukrainian but also foreign components in their products. This means tariffs will be eliminated on Ukrainian goods that contain components originating in the EU, the European Free Trade Association, the UK, and Israel.

This is intended to encourage the creation of production chains and make locating production in Ukraine more attractive to foreign investors planning to supply their goods to the Canadian market.

A second important element of the agreement is that in the areas of investment and services, it allows the parties everything that is not prohibited. The agreement does not regulate what is permitted but instead spells out exceptions to full freedom of services, the article explains.

One section includes a Digital Trade Agreement, which outlines all the fundamental freedoms in this area. This is Ukraine’s second such agreement, the first being concluded with the UK in January 2023.

Additionally, the new agreement regulates financial services, temporary entry for business persons, telecommunications, trade and gender, trade and small and medium-sized enterprises, as well as issues related to trade and indigenous peoples. The new agreement also contains updated chapters on rules and procedures of origin, competition policy, monopolies and state enterprises, government procurement, environment, labor, development and administration of measures and transparency, anti-corruption, and responsible business conduct.

Ukraine and Canada signed a free trade agreement in 2016. At the time, it was Ukraine’s largest such agreement after the free trade zone with the European Union. It provided for the opening of 98% of the Canadian market of goods to Ukrainian exporters.

Negotiations on signing an agreement with Canada lasted from 2010 to 2015, notes.

Read also:

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here

    Euromaidan Press

    We are an independent media outlet that relies solely on advertising revenue to sustain itself. We do not endorse or promote any products or services for financial gain. Therefore, we kindly ask for your support by disabling your ad blocker. Your assistance helps us continue providing quality content. Thank you!

    Related Posts