Canada Signs Landmark Free Trade Agreement With Ukraine

On 11th of July, Canada's Prime Minister Trudeau, Ukraine’s President Poroshenko and Prime Minister Groysman witnessed the signing of the milestone Canada-Ukraine Free Trade Agreement (CUFTA), which will open our markets to products, grow our communities, and give our citizens a higher standard of living.

The Agreement is part of Canada’s continued commitment to supporting Ukraine’s efforts to build a stable, democratic, and prosperous country.

Both Canada and Ukraine are committed to the timely ratification and implementation of CUFTA – so that Canadians and Ukrainians alike can take advantage of its benefits as soon as possible.

Quotes

“The Canada-Ukraine Free Trade Agreement represents a significant milestone in the relationship between Canada and Ukraine. It will bolster our economies, spur innovation, and lead to long term benefits for the middle class and those working hard to join it.”
– Rt. Hon. Justin Trudeau, Prime Minister of Canada

“Canada and Ukraine know that trade is essential to jobs and growth. By improving market access and creating more predictable conditions for trade, the Canada-Ukraine Free Trade Agreement will generate new opportunities for Canadians and Ukrainians alike.”
– The Hon. Chrystia Freeland, Minister of International Trade

Quick Facts

• In 2015, Canada and Ukraine announced the conclusion of the Canada-Ukraine Free Trade Agreement (CUFTA) negotiations.
• Canada’s International Trade Minister, Chrystia Freeland, and Ukraine’s First Vice Prime Minister and Minister of Economic Development and Trade, Stepan Kubiv, signed the Agreement in Kyiv during Prime Minister Trudeau’s first official visit to Ukraine.
• Ukraine offers numerous opportunities for Canadian businesses and investors, in areas such as information and communication technologies, agriculture, infrastructure and logistics, aerospace, defence and security, and energy.
• In 2015, bilateral trade between Canada and Ukraine increased by 13.9 per cent over 2014, totalling almost $278 million. Canada’s exports to Ukraine totalled over $210 million in 2015. Examples of products imported by Ukraine include pharmaceuticals, fish and seafood, and coking coal.
• Canada’s merchandise imports from Ukraine totalled more than $67 million in 2015. Major imports included fertilizers, iron and steel, and anthracite coal.
• Now that the Agreement has been signed, Canada and Ukraine will go through their respective domestic legislative processes to ratify and implement the Agreement.