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MP Parm Gill Helps to Announce the Conclusion of Free Trade Agreement with Ukraine

Posted in Canada, Politics

Published on July 16, 2015 with No Comments

Today, Member of Parliament Parm Gill, Parliamentary Secretary to the Minister of International Trade is helping to announce that Canada and Ukraine have successfully concluded negotiations toward the Canada-Ukraine Free Trade Agreement (CUFTA). The bilateral free trade agreement will boost commercial ties between the two countries, creating jobs and opportunities for Canadians across Canada. MP Parm Gill Helps to Announce the Conclusion of Free Trade Agreement with Ukraine

Once the Agreement enters into force, Canada and Ukraine will immediately eliminate duties on 99.9 per cent and 86 per cent of respective current imports, increasing Canadian exports to Ukraine by $41.2 million. The Agreement will result in the elimination of all Ukrainian tariffs on industrial goods, forestry and wood products, fish and seafood products, as well as the elimination of the vast majority of Ukraine’s agricultural tariffs. Canadian agriculture exporters will benefit from duty-free access for beef, pulses, grains, canola oil, processed foods and animal feed. Canadian pork producers will benefit from improved access to Ukraine’s market via a large tariff rate quota.

From 2011-2013, total bilateral merchandise trade between Canada and Ukraine averaged $347 million, and is expected to expand by 19 per cent as a result of the implementation of this trade agreement. With CUFTA, Canada’s gross domestic product (GDP) would increase by $29.2 million under this trade agreement.

MP Gill went on to state that “the conclusion of the Canada-Ukraine Free Trade Agreement is another milestone in the important relationship between our two countries. We remain committed to creating the best conditions for Canadian companies to succeed abroad, as well as to ensure jobs and opportunities across our country.”

 

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