Ukrainian President Petro Poroshenko and Canadian Prime Minister Stephen Harper have agreed to resume the work on drafting a Ukrainian-Canadian free trade agreement.
“The sides have agreed to resume joint work on drafting a Ukrainian-Canadian free trade agreement and discussed the possible beginning of negotiations on the simplification by Canada of the visa regime for Ukrainian citizens,” the press service of the head of state reported on Wednesday, following Poroshenko’s meeting with Harper as part of his visit to Canada.
Poroshenko thanked the Canadian side for giving a Ukraine a CAD 200 million loan for economic recovery and social stability, as well as for its consistent support for Ukraine’s sovereignty and territorial integrity and the steps to stabilize the situation in Donbas.
In addition, the Ukrainian president praised Canada’s assistance in strengthening Ukraine’s defense capability and the allocation by the Canadian side of funds for the implementation of the NATO initiative to improve the logistics and standardization of the Ukrainian Armed Forces.
The sides also discussed a wide range of issues of the development of bilateral cooperation, in particular, the prospects for expanding cooperation in the investment and energy sectors.
As reported, Ukraine in 2014 will borrow up to CAD 200 million for a period of up to five years at 3% per annum, according to cabinet resolution No. 443 of September 15, 2014, which was published on September 15. According to the resolution, the commission is 0.3% of the principal of the loan or CAD 600,000. The interest payments are to be made every six months.
According to the market players, the non-market rate means that this is an interstate loan, or that the guarantees of a high-quality creditor are being given. It is likely that this was the Canadian government, as the loan is being taken in the currency of that country.
