Ukraine and Canada will sign an updated Free Trade Agreement

Ukraine and Canada will sign an updated Free Trade Agreement.

This follows from a statement by the Cabinet of Ministers, the Ukrainian News agency reports.

"In terms of its content, the updated Agreement is exceptional because it will contribute to the intensification of trade with Canada and create unique opportunities for Ukrainian business. In opening markets with Canada, we are moving to the working principle of 'everything is allowed that is not prohibited,'" said Prime Minister Denys Shmyhal.

Also, according to him, Ukrainian businesses will now be able to export products to Canada without tariffs, even if the components of these products originate from the EU, the European Free Trade Association (EFTA), Britain, and Israel.

He noted that this approach encourages foreign businesses to create production facilities in Ukraine.

"In the updated Agreement, we are improving the section on digital trade. For Ukraine, one of the IT sector leaders in Europe, this opens up great opportunities. This is the second Agreement on digital trade after Great Britain. The updated Agreement between Ukraine and Canada includes sections that concern the support of small and medium-sized businesses, as well as the strengthening of the role of indigenous peoples in trade. For the first time, the special place of Crimea, Crimean Tatars, Krymchaks, and Karaites is noted in trade agreements," Shmyhal emphasized.

As the Ukrainian News agency earlier reported, on April 11, Prime Minister Denys Shmyhal arrived in Canada on a working visit.