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Canada, Ukraine Sign FTA

by Mike Godfrey, Tax-News.com, Washington

12 July 2016


Canada and Ukraine have signed a free trade agreement (FTA) that will eliminate a majority of tariffs and improve market access.

The Canada-Ukraine FTA (CUFTA) was signed in Kiev on July 11, 2016. Canada and Ukraine launched FTA negotiations in 2010. Six rounds of talks were held between 2010 and July 2015, when negotiations concluded.

Upon the CUFTA's entry into force, Ukraine will immediately eliminate tariffs on 86 percent of Canada's exports, with further tariff concessions to be implemented over periods of up to seven years. Among the key Canadian products that will benefit from either immediate or eventual duty-free access are beef, pork, processed foods, frozen fish, certain iron and steel products, and industrial machinery.

When the CUFTA enters into force, Canada will abolish tariffs on 99.9 percent of imports from Ukraine. It will eliminate tariffs on all industrial products, fish and seafood, and on 99.9 percent of agricultural imports from Ukraine. Ukrainian exporters of sunflower oil, sugar and chocolate confectionary, vodka, iron, and steel, will be among those to benefit.

Canada excluded all over-quota tariffs for supply-managed products (i.e. dairy, poultry, and eggs) from the tariff elimination process, and import quotas for these products will not be increased.

The CUFTA will also provide companies with preferential access to procurement opportunities at the central government level in both countries. It includes commitments to the protection and enforcement of intellectual property rights, and to high environmental standards and labor rights.

Chrystia Freeland, Canada's Minister of International Trade, said: "Our Government is committed to exploring ways in which we can expand our commercial relations and progressive trade agenda with Ukraine. The Canada-Ukraine Free Trade Agreement signed today will increase trade opportunities for Canadian and Ukrainian companies to help them create more good-paying middle-class jobs in both countries."

TAGS: environment | tax | free trade agreement (FTA) | intellectual property | tariffs | trade treaty | enforcement | food | tax rates | Canada | import duty | standards | trade | Ukraine

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