Canada, Ukraine start reviewing free trade agreement

According to an Ukrinform correspondent, the Ukrainian delegation in Ottawa is headed by First Deputy Prime Minister Stepan Kubiv.

The purpose of the commission's work is to analyze the success of the free trade agreement between Canada and Ukraine a year after its entry into force and work out proposals for the further development of economic cooperation between the two countries.

The need for the creation of the commission was defined in the text of the free trade agreement, which was signed by Kubiv and then Minister of International Trade of Canada Chrystia Freeland in July 2016. According to the document, representatives of the two states had to meet to assess the effectiveness of the agreement a year after its entry into force.

The parties still have to outline their negotiating positions. However, Ukraine has already proposed extending the effect of the agreement to investment and services not covered by the current treaty.

The free trade agreement between Canada and Ukraine came into force on August 1 last year. Canada then immediately lifted 98% of customs duties on Ukrainian goods. At the same time, 72% of customs duties were immediately canceled for Canadian goods in the Ukrainian market, and within seven years duty-free exports should grow to 98%. The agreement also mutually opens up public procurement markets. Certain sections of the document protect electronic commerce and intellectual property.

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