Canada starts ratification of modernized free trade agreement with Ukraine

“The modernized CUFTA marks an important milestone in the Canada-Ukraine relationship, opening greater collaboration for our businesses and the ability to support Ukraine’s economic rebuild while driving benefits for Canadians at home,” Mary Ng, Canada’s Minister of Export Promotion, International Trade and Economic Development said in Ottawa, an Ukrinform correspondent reports.

The minister added that she intended to organize a working trip of Canadian entrepreneurs to Ukraine next year "to create connections and set Canadian businesses up to support the rebuild of Ukraine." "I look forward to working with all members of Parliament and senators to swiftly pass the legislation so that Canada may be in a position to bring the modernized CUFTA into force," Ng added.

The Canada-Ukraine Free Trade Agreement entered into force on August 1, 2017 and allowed for the mutual cancellation or reduction of import duties on most goods. In September 2023, during a visit to Ottawa, President Volodymyr Zelensky and Prime Minister Justin Trudeau signed an updated agreement which now also covers trade in services, not only goods, investments, telecommunications and other promising areas.