Canada, Ukraine Conclude Latest FTA Talks

by Mike Godfrey, Tax-News.com, Washington

24 May 2011

A second round of free trade negotiations between Canada and Ukraine has been successfully concluded, as the two countries aim at strengthening their economic ties.

The talks, which took place in Kiev on May 16, are the latest step on the path towards the settlement of a free trade agreement (FTA).

According to the Canadian government, a deal of this type would further open markets for Canadian exports, ranging from seafood products to machinery, vehicles, iron and steel products, and plastics.

Commenting on the negotiations, Ed Fast, Canadian Minister of International Trade and Minister for the Asia-Pacific Gateway, said: “Our government remains focused on the economy. A free trade agreement with Ukraine will further expand trade opportunities, encourage economic growth and help create jobs".

“We want to build on our already strong cultural relationship with the Ukrainian people by strengthening our economic ties. Canadian companies are steadily building a presence in Ukraine in areas such as aerospace and agriculture. We want to encourage more of these connections”, Fast added.

In recent years, the Canadian government, headed up by Prime Minister Stephen Harper, which recently succeeded in gaining re-election, has concluded eight new FTAs.

The discussions with Ukraine are among the approximately 50 other sets of negotiations currently engaged in by Canada, with countries including European Union member states, and India.

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