UKRAINE AND CANADA SIGN FREE TRADE AGREEMENT

In the presence of President Petro Poroshenko and Prime Minister of Canada Justin Trudeau the Free Trade Agreement between Ukraine and Canada was signed in Kyiv by First Vice Prime Minister – Minister of Economic Development and Trade of Ukraine Stepan Kubiv and Minister of International Trade of Canada Chrystia Freeland.

"The given Agreement will become an instrument to simplify and enhance economic interaction between our countries," remarked the Head of the State.

 According to the President, the document envisages not only the removal of tariff barriers, but also clear commitment to removing 99% of barriers in the international trade in 7-year term. "This is a preferential access for goods of Ukrainian and Canadian origin respectively. These are new opportunities for trading area expanding and transparent trading conditions," emphasized Petro Poroshenko, adding that the Agreement would provide access for Ukrainian producers to the public procurement system of Canada and vice versa. Besides, the Agreement will become another anti-corruption tool of Ukraine.

In his turn, Justin Trudeau noted that the Agreement would create more predictable trading conditions between the two countries. "By eliminating tariffs and barriers for almost all kinds of goods the Agreement will be beneficial for both countries and create new opportunities, jobs, markets, facilitating improvement of living standard. This will boost the development of our economies," said the Prime Minister of Canada.

The President emphasized that Ukrainian and Canadian parties are not going to stop on the FTA Agreement and would continue working over the expansion of the scope of this document.

Petro Poroshenko believes that Canada and Ukraine have a huge potential for cooperation. In this context, Ukraine has invited Canadian investors and businesses to taking active part in transparent and effective privatization process.

The Agreement was signed on 11 July, and on the next day the State Concern “UkrOboronProm” has concluded strategic agreements with Canadian companies in the framework of international air show "FARNBOROUGH AIR SHOW-2016". Transport aircraft An-12, Аn-148/158/178 will have modern avionics of Canadian company Esterline CMC Electronics (CMC); aircraft An-132 will be furnished with new version turboprop engine PW150A by Pratt & Whitney Canada.