Free Trade Agreement Between Canada and Ukraine Passed by Committee

The Bill on Ratification of the Updated Free Trade Agreement

The bill on ratification of the updated Free Trade Agreement between Canada and Ukraine without any amendments has passed the relevant committee of the Canadian Senate. The bill will be returned for final approval by the full Senate in the next plenary week, starting on March 19. After final approval by the Senate, the bill will need to receive the signature of the Governor General to come into effect.

Expansion of Trade Agreement

The original Free Trade Agreement between Canada and Ukraine came into force on August 1, 2017, allowing for the mutual elimination or reduction of import duties on most goods. In September of last year, during a visit to Ottawa, President Volodymyr Zelensky and Prime Minister Justin Trudeau signed the updated Agreement, which now also covers trade in services, not just goods, as well as investments, telecommunications, and other promising sectors.

Security Agreement and Assistance

In early February, the House of Commons of Canada ratified the updated Free Trade Agreement with Ukraine. It is worth noting that last week Ukraine signed a security agreement with Canada. The document provides for Canada to allocate over 3 billion Canadian dollars in macro-financial and defense assistance to Ukraine in 2024.