Ukraine and Canada intend to expand the CUFTA

First Deputy Prime Minister of Ukraine - Minister of Economy Yulia Svyrydenko and Mary Ng. Minister of International Trade, Export Promotion, Small Business and Economic Development during an online meeting on January 27 announced talks on modernizing the Canada-Ukraine Free Trade Agreement (CUFTA).

"Today when we mark the 30th anniversary of the establishment of diplomatic relations between Ukraine and Canada, the modernization of CUFTA is mutually beneficial for enterprises and consumers of our two countries", said the First Deputy Prime Minister of Ukraine - Minister of Economy Yulia Svyrydenko.

Canada has been an important trading partner of Ukraine for three decades. Thus, according to the results of 2021, the volume of exports of Ukrainian goods has almost doubled - from USD 81.3 to 160.1 million. CUFTA has enabled exporters from both countries to seize more opportunities, improved market access and created a more predictable and transparent trading environment.

In the forthcoming CUFTA modernization talks, Canada and Ukraine will discuss possible expanding of cooperation in a number of aspects, in particular, in the field of services, investment, e-commerce, employment and the environment. The parties intend to provide equal opportunities for international trade, especially for small and medium-sized enterprises.

The integration of new provisions into CUFTA will diversify and expand trade cooperation between Canada and Ukraine, thereby contributing to long-term economic growth.