The Canada-Ukraine Free Trade Agreement (CUFTA) entered into force on August 1. The CUFTA opens a new chapter in relations between Canada and Ukraine.
The CUFTA will significantly increase bilateral trade between Canada and Ukraine, to the benefit of the economies of both Canada and Ukraine. The agreement includes the phase-out of tariffs to create a duty-free environment. It includes the elimination of tariff and non-tariff barriers; protection of intellectual property; environmental and labour standards; and provides enhanced market access for goods and services.
“This is an historic day in relations between Canada and Ukraine. It is an important milestone in Ukraine’s ongoing Western integration, and will create considerable opportunities for economic growth in both Ukraine and Canada,” stated Paul Grod, National President of the Ukrainian Canadian Congress. “Congratulations to everyone who worked for many years to make the CUFTA a reality. Вітаємо!”
“The Canada-Ukraine Free Trade Agreement sends a powerful message to the rest of the world that Ukraine is open for business, and offers significant trade and investment opportunities,” stated Zenon Potoczny, President of the Canada-Ukraine Chamber of Commerce (CUCC). “With CUFTA now in full effect, Canadian and Ukrainian businesses alike will fully benefit from the countless opportunities for increased trade, growth, and investment.”
Canadian and Ukrainian businesses are encouraged to contact the Canada-Ukraine Chamber of Commerce to explore opportunities presented by the CUFTA. For more information on the CUCC please see Canada Ukraine Chamber of Commerce.