Ukraine counts on further liberalization of market access in Canada

The parties discussed the signing of an updated Free Trade Agreement

Ukraine looks forward to further liberalization of access to the Canadian market in general and at the provincial level. This was discussed at a meeting of the First Vice Prime Minister of Economy Yulia Sviridenko with the Minister for International Trade, Export Promotion, Small Business and Economic Development Canada Mary Ng, reported the Ministry of Economy.

The parties discussed the signing of an updated Free Trade Agreement and support for our country in joining the Trans-Pacific Partnership Agreement (TPPA).

“A year ago, Canada introduced a temporary liberalization of trade in goods, removing all tariffs and quota requirements. Now the war is not over yet, and the Ukrainian economy needs support. Therefore, we ask Canada to consider the possibility of extending the regime for the abolition of all duties and quotas on Ukrainian exports until the end of the war and, possibly, for the period of post-war reconstruction,” said Yulia Sviridenko.

The First Deputy Prime Minister also expressed her gratitude to Canada for supporting Ukraine’s intentions to join the comprehensive and progressive Trans-Pacific Partnership Agreement (TPPA).

Mary Ng noted that in the near future all the formalities for signing a modernized Free Trade Agreement between the parties will be completed. She also assured that Canada will assist Ukraine in its desire to join the TPPA agreement, because next year Canada will chair this organization.

In April 2023, Prime Ministers of Ukraine and Canada Denys Shmyhal and Justin Trudeau announced the completion of negotiations to conclude an updated Free Trade Agreement between the two countries. This document should replace the existing one, which has been in force since 2017. The new agreement will allow the parties everything that is not prohibited. Separately, guarantees for investors were prescribed, as well as an investment protection system based on modern legal instruments.

The EU for another year continued duty-free trade with Ukraine. EU suspends all duties, quotas and trade protection measures on Ukrainian exports until June 2024

As GMK Center reported earlier, the United States will extend the temporary suspension of duties under Section 232 on Ukrainian steel for another year. In addition, the President of the United States supported the initiative of the Secretary of Commerce Gina Raimondo, and also exempted steel from the EU, made from Ukrainian raw materials, from duties.