First Vice Prime Minister of Ukraine - Minister of Economy of Ukraine Yulia Svyridenko and Minister of Foreign Trade, Export Support, Small Business and Economic Development of Canada Mary Ing during an online meeting on January 27, 2022 announced talks on modernizing the Free Trade Agreement between Canada and Ukraine (CUFTA). This was reported by the Ministry of Economy of Ukraine.

«Today, when we celebrate 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 countries», said First Deputy Prime Minister of Ukraine - Minister of Economy of Ukraine Yulia Svyridenko.

Canada has been an important trading partner of Ukraine for three decades. Thus, according to the results of 2021, the volume of export of Ukrainian goods has almost doubled - from 81,3 to 160,1 million US dollars. CUFTA has enabled exporters from both countries to seize more opportunities, improved market access and created a more predictable and transparent trading environment.

During next CUFTA modernization negotiations, Canada and Ukraine will discuss expanding cooperation in many aspects. In particular, in the field of services, investment, e-commerce, employment and the environmental protection. The parties intend to provide equal opportunities for international trade, especially for small and medium enterprises.

The integration of new provisions into CUFTA will diversify and expand trade cooperation between Canada and Ukraine, which will contribute to long-term economic growth. Also the parties agreed on a joint statement.

Reference source: Diia.Business.Export