Canada Ukraine Free Trade Agreement

Canada Ukraine Free Trade Agreement (CUFTA) is a bilateral agreement that was signed between Canada and Ukraine on July 11, 2016. The agreement aims to eliminate trade barriers and increase economic opportunities for businesses and individuals in both countries. The agreement covers a wide range of sectors, including agriculture, manufacturing, services, and investments.

Under CUFTA, both countries have agreed to eliminate tariffs on a majority of goods traded between them. The agreement also includes provisions related to non-tariff barriers, intellectual property, and government procurement. CUFTA is expected to boost trade between Canada and Ukraine and create significant opportunities for businesses in both countries.

One of the key benefits of CUFTA for Canadian businesses is access to the Ukrainian market, which is home to 42 million people. Ukraine is an important agricultural producer and exporter, and the agreement is expected to increase Canadian exports of agricultural products, including beef, pork, and grains. The agreement also provides Canadian businesses with preferential access to Ukraine’s manufacturing and services sectors.

For Ukrainian businesses, CUFTA provides access to the Canadian market, which is the world’s tenth-largest economy. Canada is a significant importer of agricultural products, including grains, oilseeds, and meat. The agreement also provides opportunities for Ukrainian businesses in the manufacturing and services sectors.

CUFTA is expected to increase bilateral trade between Canada and Ukraine by $1.2 billion annually. The agreement will benefit businesses and individuals in both countries by creating new job opportunities, increasing access to new markets, and boosting economic growth.

In conclusion, CUFTA is a significant agreement that will benefit businesses and individuals in both Canada and Ukraine. The agreement will eliminate trade barriers and increase economic opportunities in a range of sectors, including agriculture, manufacturing, services, and investments. With CUFTA in place, Canadian and Ukrainian businesses will be able to grow and expand their operations, creating new job opportunities and boosting economic growth in both countries.