Canada has allocated $13 million for the program of the development and support of an agreement on a free trade area (FTA) between Ukraine and Canada, Charge d’Affaires, Head of Development Cooperation at the Canadian Embassy in Ukraine Karim Morcos has said.
“Canada not only removes duties for most Ukrainian goods, but we also have invested $13 million in the development and support of a free trade agreement, we will also focus on different sectors: IT, agro-industry, fashion, etc.,” he said during the reception in honor of the entry into force of the agreement on the FTA in Kyiv on August 1.
In addition, the diplomat noted that the agreement on the free trade area will provide opportunities for development, help create jobs and attract investments.
As earlier reported, the agreement from August 1 will cancel 98 percent of tariffs for Ukrainian exports to Canada and 72 percent of tariffs from Canada to Ukraine. Over the next seven years the latter will increase to 98 percent. Moreover, markets for state purchases are also included. Parts of the agreement safeguard electronic commerce and intellectual property rights.
The trade agreement between Canada and Ukraine was signed in Kyiv on July 11, 2016. Ukraine’s Verkhovna Rada ratified the deal on March 14, 2017. Ukrainian President Petro Poroshenko signed the law on ratification on April 3, 2017.
