Canada Free trade agreement

Canada Free trade agreement
11 April
Economy and the market

At a session on 10 April, the Ukrainian parliament adopted the draft law No. 0242 on ratification of the free trade agreement between Ukraine and Canada. It was supported by 317 MPs. About it the people's Deputy Yaroslav Zheleznyak.

"This is not the new agreement itself, these are amendments to it (added services). The agreement itself was concluded back in 2017," - wrote Yaroslav Zheleznyak.

The updated Free Trade Agreement between Ukraine and Canada was signed by Ukrainian President Volodymyr Zelensky and Canadian Prime Minister Justin Trudeau on 23 September 2023 during the visit of the Ukrainian head of state to Canada.

In particular, it takes trade relations between the two countries into a new dimension, as the document was drafted using a new liberal method in the field of services - everything that is not prohibited is allowed.

The agreement also includes updated chapters on business protection, rules and procedures of origin, competition policy, monopolies and state-owned enterprises, public procurement, environment, labour, development and administration of measures and transparency, anti-corruption and responsible business behaviour.

It also regulates financial services, temporary entry for business persons, telecommunications, trade and gender, commerce and SMEs.

The implementation of the law is expected to complete all domestic procedures necessary for the entry into force of the amendments to the Agreement, which will promote further development of bilateral trade and economic cooperation between the countries, allow domestic producers to benefit from the liberalisation of Canadian goods markets, and open up opportunities for Ukrainian businesses to expand their sales markets and develop and modernise their own production.

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