The Honourable Ed Fast served as Canada’s Minister of International Trade from 2011 to 2015. His tenure was marked by the conclusion of the Canada‑Ukraine Free Trade Agreement, which provided a significant boost to bilateral trade. Still, Canada’s long‑term economic partnership with Ukraine may ultimately prove even more important after the war, when reconstruction begins.

In an interview with Ukrinform, Mr Fast argues that while Ottawa has provided steady support, much will depend on post‑war economic growth, stronger enforcement of sanctions against Russia, and the ability of Western allies to maintain a united front.

TOO EARLY TO ASSESS CUFTA’S IMPACT AMID ONGOING WAR

- You played a key role in negotiating the Canada-Ukraine Free Trade Agreement (CUFTA). Looking at where things stand today, how would you assess the evolution of Canada-Ukraine economic relations since then?

- I don't believe we can properly assess how valuable and effective our free trade agreement is right now, given the fact that Ukraine faces an existential threat from Russia's war. When that war is finally ended, the free trade agreement we have will be one of the most important tools Ukraine has to bring its economy back onto its feet. In fact, that was the original intent of our engagement with Ukraine, which started back in 2009, even before I became trade minister.

- Has Canada done enough - economically and strategically - to support Ukraine since the full-scale invasion began?

- There’s always more to be done, so don’t take my comments as suggesting we’ve reached an endpoint. Canada has been active in supporting Ukraine throughout its challenges with the war. In addition to negotiating the trade agreement - and later modernising it to include investment, services, and a number of other areas - Canada has also been active in providing military support to Ukraine and training. Canadians are very favourably inclined to continue supporting Ukraine, both economically and militarily. There is a stronger consensus in Canada on this issue than in the United States, where support has become less robust.

CANADA POISED TO PLAY KEY ROLE IN UKRAINE’S RECONSTRUCTION

- Ukraine is increasingly looking toward post-war reconstruction. What role do you see Canada - and specifically Canadian businesses - playing in rebuilding Ukraine’s economy?

- During my time as trade minister, I found Canadian businesses were very interested in opportunities in Ukraine to partner and participate in rebuilding its economy. I led two trade missions to Ukraine in 2014 and 2015, accompanied by business leaders interested in trade, investment, and infrastructure opportunities. I believe Canada will become a much more significant partner for Ukraine once hostilities cease.

- Canadian companies have been cautious about entering Ukraine during the war. Is that a failure of government policy or risk tolerance in the private sector?

- I think it’s primarily risk tolerance - and frankly, that makes sense. We constantly hear negative news about the war, and companies will naturally invest where conditions are stable. Canada lies next to the largest economy in the world, where the war hasn’t affected domestic conditions.  Ukraine’s situation is very different. That doesn’t mean Canadian companies are averse to doing business with Ukraine - it’s a matter of timing.

- Apart from the war, what are the biggest barriers currently preventing deeper trade and investment between Canada and Ukraine? Can they realistically be addressed?

- When we negotiated the free trade agreement with Ukraine, it was very different from most trade deals Canada had done. We deliberately created an asymmetrical agreement that gave Ukraine accelerated access to the Canadian market. Our goal was to provide Ukrainian businesses with immediate economic benefits, rather than the phased approach typical of such agreements. We recognised early on that Ukraine needed a “leg up” as conditions were becoming more difficult even then. So Canada did go out of its way to accommodate Ukraine’s challenges.

EU INTEGRATION COULD BOOST CANADA-UKRAINE TRADE

- You were deeply involved in negotiating major agreements like the Comprehensive Economic and Trade Agreement between Canada and the EU (CETA). What lessons could apply to Ukraine’s integration with Western markets?

- Since its completion in 2017, CETA has significantly improved trade flows between Canada and the EU. Given current global disruptions, including those introduced by the Trump administration, more countries are recognising the value of working together as like-minded partners committed to trade liberalisation outside of the influence of the USA. Ukraine already has an agreement with the EU, which positions it to potentially join the EU. If that happens, Ukraine could also benefit from alignment with agreements like CETA through common rules of origin, reduced non-tariff barriers, and tariff elimination. That would be a significant benefit.

- How do you see Canada’s role evolving within the broader Western alliance in supporting Ukraine, particularly compared to the U.S. and the EU?

- In Davos, Prime Minister Carney signalled clearly that Canada wants to align with free and democratic nations that support rules-based trade. The United States has moved away from that approach toward a more transactional, power-based model. That’s unfortunate, because it used to be a leader, not just economically, but morally. This shift is encouraging countries like Canada and EU members to consider new partnerships based on shared values.

- If U.S. support for Ukraine weakens, is Canada prepared to step up in a meaningful way?

- Canada should step up, but we also need to be realistic: we are not a military powerhouse like the United States. We can continue supporting Ukraine - as we have - but to suggest that Canada alone represents a fix to this very existential challenge that Ukraine faces is unrealistic. Though I do have confidence in Prime Minister Carney to understand the stakes and what’s at risk.

SANCTIONS ON RUSSIA REMAIN INSUFFICIENTLY ENFORCED

- One of the ways to help Ukraine is to weaken Russia. Have Western sanctions been strong enough?

- No. And what’s missing is the willingness of some of our global partners to actually enforce the sanctions we pay lip service to. The fact that the United States has eased some sanctions on Russian oil to try to address the Strait of Hormuz challenge is an example of this. It reflects how we can rhetorically claim to be tough on nations like Russia that undermine the rules‑based order, and yet, when our own interests start to feel the pressure, some countries back off the rigour of their enforcement regimes. That’s why some of the sanctions on Russia have not succeeded in forcing it to reconsider its aggression in Ukraine and elsewhere.

- How do you assess the current Canadian government’s approach to foreign policy and defence spending?

- The Carney government has very clearly committed to moving toward the 2%‑of‑GDP defence spending target, and to doing so in short order. We’ve also committed to meeting the 5% GDP target. That is a huge undertaking for our economy, especially given the fact that Donald Trump is undermining our fiscal position by imposing very harmful tariffs on Canada and many other countries. I’m not sure the United States has yet realised that you cannot expect your partners to dramatically increase their military contributions when, at the same time, you undermine the very economic growth required to provide the fiscal capacity to meet those commitments. I believe Prime Minister Carney is serious about achieving both spending targets. But the larger 5% target - which would help us support Ukraine - will only be achievable if we have a healthy economy focused on growth. And the more the United States undermines the prospects for that growth, the more difficult it will be to deliver on those commitments

- Is there bipartisan consensus in Canada on supporting Ukraine?

- Yes, there is a general political consensus in Canada that we should support Ukraine.

PUTIN’S AGGRESSION EXPOSED FAILURES OF THE GLOBAL SYSTEM

- Looking back, could more have been done before 2022 to prepare Ukraine?

- In hindsight, it’s easy to say yes. But at the time, I don’t think the world fully grasped Putin’s willingness to disrupt the global rules‑based order. Looking back, we can now see the warning signs from Mr Putin. But when we were negotiating our trade agreement and providing support to Ukraine, I don’t believe anyone in the Western world genuinely thought Mr Putin would take the actions he ultimately did in Ukraine. So for us now, after the fact, to play armchair quarterback is probably a fool’s game. The reality is that we all got it wrong. Humans tend not to learn from history and often repeat the same mistakes over and over again. Mr Putin is an international bully who has become increasingly emboldened by his ability to breach the global rules‑based order with limited consequences. And unless the world is firmly committed to standing up to that kind of aggression, people like Mr Putin will continue to act this way, because they know they can usually get away with it.

- What would success look like for Ukraine in five years?

- The number one thing I would like to see in Ukraine is peace and reconstruction, with the global community stepping in to help the country rebuild its shattered infrastructure and economy. What would that look like? I think that if, within five years, we could see an economic growth trajectory in Ukraine that would allow it to move toward full membership within the EU, that would be a major win for the country. And the partnerships aren’t limited to EU. Canada should continue to be a trustworthy and engaged partner to Ukraine as it seeks to rebuild and move toward sustained economic growth.

- Thank you for the interview.

- I love Ukraine. My family heritage is Ukrainian - we are Mennonites. Our chief negotiator on CUFTA also had Ukrainian roots. We have a real heart for Ukraine. I want to see Ukraine succeed and return to peace.

Maksym Nalyvaiko, Ottawa

Photo credit: Ed Fast/Facebook