Wednesday, March 15, 2017

Rada ratifies FTA agreement between Ukraine and Canada

March 15, 2017 (Interfax) The Verkhovna Rada has ratified the free trade area agreement (FTA) between Ukraine and Canada. Some 272 people's deputies voted for this decision on March 14. Verkhovna Rada Speaker Andriy Parubiy after voting said he would urgently sign the document. The agreement was signed in Kyiv on July 11, 2016. According to an explanatory note to the document, the ratification of the agreement will promote the development of bilateral trade and economic relations between Ukraine and Canada, will allow Ukrainian producers to benefit from customs-free access to the Canadian market, will open new markets for Ukrainian enterprises. 

First Deputy Prime Minister, Minister of Economic Development and Trade Stepan Kubiv said in parliament that the results of the analysis conducted by research institutes show that the annulment of imports duties by Canada would help Ukrainian manufacturers of food, light, chemical, petrochemical and engineering industries to have the best advantages on the Canadian markets. On the other hand, the agreement would open opportunities for imports of raw materials and advanced technologies, which would prompt Ukraine's economic growth. Full article is available at: