The Senate of Canada approved a free trade Agreement with Ukraine
The upper house of the Federal Parliament of Canada by an absolute majority of votes supported the ratification of the Agreement on free trade between Ukraine and Canada in the second reading.
For a decision voted by 102 senators (only canadian Senate has 105 members), writes UKRINFORM.
Before a final vote in the third reading the document must re-obtain approval of the relevant Committee, but usually this step is easy.
Accordingly, a final vote could take place in late March-early April. After approval by the Senate, the next step from Canada on the way to which the agreement enters into force, will be signing it by the Governor-General. However, that Agreement began to operate, it must be approved also by the Parliament of Ukraine.
Recall that the lower chamber of the canadian Parliament by unanimous vote ratified this document in February. The Agreement was signed on 11 July this year during the visit of Justin Trudeau in Kiev. With its entry into effect, Canada will immediately abolish tariffs on 99.9% of Ukrainian imports.
In turn, Ukraine also cancels 86% duties on imports from Canada, in the 7 years leading up to the customs policy of parity.
See also:
The lower house of the Parliament of Canada ratified the agreement on FTA with Ukraine
Agreement the parties signed in July 2016 during a visit to Kiev the Prime Minister of Canada Justin Trudeau.
The implementation of the provisions of the document will promote the development of bilateral trade-economic cooperation between Ukraine and Canada, will allow domestic producers to benefit from duty-free access to the canadian market, will provide opportunities for Ukrainian business to expand markets, and for the development and modernization of its own production in order to improve competitiveness in new markets. It is also expected that the implementation of the agreement will contribute to the creation of new jobs in Ukraine.
The exact date of the start of the free trade zone is still unknown.
Previously Poroshenko suggested Trudeau simultaneously ratify the agreement on the FTA.
Recall that on 1 January 2016 entered into force, the Agreement on deep and comprehensive free trade area Ukraine-EU in the framework of the Association agreement.