President of Ukraine Volodymyr Zelenskyy and Prime Minister of Canada Justin Trudeau have signed an updated Free Trade Agreement between the two countries

The document adds a comprehensive and up-to-date set of legal instruments for investment protection. 

The new Agreement also includes updated chapters on 

– rules and procedures of origin, 
– competition policy, 
– monopolies and state-owned enterprises, 
– public procurement, 
– environment, 
– labour, 
– development and administration of measures and transparency, 
– anti-corruption and responsible business behaviour. 

“This is the first agreement that confirms that Ukraine shares the trade agenda of Canada, the US, the EU, Japan and our other partners. Its text is based on the standards of the Canada-US-Mexico Free Trade Agreement and the Trans-Pacific Partnership Agreement, which Ukraine is preparing to join. Thus, Ukraine is joining the general trend of our allies called friendshoring – the development of trade with countries that share the principles of economic policy,” explained Yulia Svyrydenko, First Deputy Prime Minister of Ukraine – Minister of Economy of Ukraine.

In addition, the Agreement regulates financial services, temporary entry for business persons, telecommunications, trade and small and medium-sized enterprises. The section on trade in goods contains new rules of origin that allow the use of parts or ingredients from the EU, the UK, and Israel for goods exported to Canada duty-free. This will increase the involvement of Ukrainian producers in global supply chains.

The document will replace the existing Agreement, which has been in force since 2017. As part of this document, Ukraine and Canada also signed the Digital Trade Agreement, which became the second for our country after the corresponding agreement with the United Kingdom.

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