Economy 2023-01-15T08:44:05+02:00
Ukrainian news
Rada Ratifies Free Trade Area Agreement With Canada

Rada Ratifies Free Trade Area Agreement With Canada

Ukraine, Verkhovna Rada, Canada, Free Trade Agreement., CUFTA

The Verkhovna Rada of Ukraine has ratified the free trade area agreement with Canada.

A total of 272 deputies backed respective bill No. 0120, when 226 votes enough to pass the decision, the Ukrainian News Agency reports.

The agreement with Canada retains some trade restrictions for the both parties.

Canada lifts duties on 98% of Ukrainian goods, mainly from the agricultural sector, except for poultry meat, dairy products, cheese, eggs.

Canada annuls duties on industrial products from Ukraine, except for passenger cars duties on which will be zeroed during the forthcoming seven years.

Ukraine cancels duties on almost 80% of imports from Canada.

A part of the duties will be reset to zero during the forthcoming 3-7 years.

In particular, that touches live sheep and poultry, beef, mutton, nuts, pork byproducts, fruit, seeds, oil-bearing crops, vegetable oil, fresh pork, poultry, milk, cream, honey, eggs, and vegetables.

As Ukrainian News Agency earlier reported, on February 15, Ambassador to Canada Andrii Shevchenko said that the House of Commons of Canada has ratified the Canada-Ukraine Free Trade Agreement (CUFTA).

The ambassador also stressed that a Senate decision and a Governor General signature is required to complete the ratification procedure.

The Ministry of Economic Development and Trade looks to a 10-fold increase in Ukrainian exports to Canada, to USD 200-300 million, before 2022.

Ukraine expects the CUFTA to be ratified in February or March.

On July 11, 2016 Ukraine and Canada signed the Canada-Ukraine Free Trade Agreement.

The Canada-Ukraine Free Trade Agreement envisages opportunities for Ukraine to supply poultry, eggs, dairy products, cheese, beef, pork, wheat and barley at zero import duty, but within the tariff quotas.

Больше новостей о: Ukraine Verkhovna Rada Canada Free Trade Agreement. CUFTA