Ukraine, Canada sign historic trade deal

Ukraine and Canada successfully concluded free trade negotiations and signed a relevant document during Ukrainian Prime Minister Arseniy Yatsenyuk's working visit to Ottawa, Canada, on Tuesday.

The Information and Communication Department of the Cabinet's Secretariat said it in a statement, UNIAN reports.

Ukraine's Trade Representative Natalia Mykolska signed the document on behalf of the Ukrainian government, while Director General for Market Access from Canada's Department of Foreign Affairs and International Trade Marvin Hildebrand signed it on behalf of his country, the statement reads.

The prime minister stressed that the signing of this document would "open a new page in bilateral relations between Ukraine and Canada."

"This should deepen Ukrainian-Canadian cooperation, boost bilateral investment. This is another step to make our country prosperous," he said.

"We have got a broad agenda, next steps should be done," Yatsenyuk said and expressed appreciation to the government of Canada on behalf of the Ukrainian government for all the efforts in support of the Ukrainian state.

The provisions of the draft agreement on free trade between Ukraine and Canada are aimed, among other things, at deepening trade and economic cooperation, including in trade in industrial and agricultural goods, intellectual property protection, and the regulation of public procurements.

After the agreement comes into effect, Canada will make free access to 98% of its goods market for Ukrainian exporters immediately. But Ukraine, completely abolishing import duties, will have a transition period before the liberalization of the market, according to the statement.

In the long term for business, the agreement will create an opportunity to diversify trade flows, will be an impetus to the modernization of Ukrainian enterprises for the production of added-value goods for export to Canada.

As UNIAN reported earlier, on Tuesday, July 14, Arseniy Yatsenyuk was on a working visit to Canada.