Canada and Ukraine will negotiate modernization of current FTA

Trade ministers from Canada and Ukraine announced that will proceed with negotiations on the modernization of the Canada-Ukraine Free Trade Agreement (CUFTA), with the first round of modernization negotiations to take place as soon as feasible.

A modernized CUFTA will further expand Canada and Ukraine’s commercial ties, building on the over $300 million in bilateral trade between the two countries in 2020. The modernization of CUFTA will also contribute to Ukraine’s stability and broad-based economic development.

CUFTA entered into force on August 1, 2017.

Canada undertook public consultations in early 2020 on the possible modernization of CUFTA and published a report of the findings in May 2020.

Link: Joint statement on the launch of negotiations to modernize the Canada-Ukraine Free Trade Agreement