The Government has approved a draft decree of the President of Ukraine on signing an updated free trade agreement with Canada. This was announced by Prime Minister Denys Shmyhal.
According to the Head of Government, this is a modern, progressive agreement, which aims to increase investment, boost trade in services and develop digital trade.
"In trade in services, for the first time we have an agreement based on the principle of "everything that is not specified in the agreement is open" - this is especially important for the flexible world of services, where new services, especially digital ones, are constantly emerging," said Denys Shmyhal.
As the Prime Minister also said, the agreement clearly states that Ukraine shares with Canada approaches to labor standards, the environment, and the role of small and medium-sized businesses in trade and the economy in general.
Another important element of the agreement is the cross-cumulation of goods. According to the Head of Government, the agreement stipulates that the free trade regime applies to goods containing components from the EU, the UK and Israel, with which Ukraine also has joint agreements: "This will strengthen the integration of Ukrainian producers into global supply chains."