The document was signed by Ukraine's trade commissioner Natalia Mykilska on behalf of Ukraine and Director General, Market Access, Department of Foreign Affairs and International Trade Marvin Hildebrand on behalf of Canada, Censor.NET reports citing the official website of the Ukrainian Government.
"Prime Minister of Ukraine Arsenii Yatseniuk stressed that the signing of this document "opens a new page in bilateral relations between Ukraine and Canada," the statement reads.
"This should deepen Ukraine-Canada cooperation, increase bilateral investment. This is another step to make our country prosperous," he said.
The provisions of the draft Agreement on free trade between Ukraine and Canada provide, in particular, the deepening of trade and economic cooperation, including trade in industrial and agricultural goods, intellectual property protection and regulation of public procurement.
Canada will grant free access to 98% of its goods market to Ukrainian exporters immediately after the Agreement comes into force while Ukraine will have a transition period before the liberalization of the market having completely abolished import duties.
In the long term , the Agreement will become the opportunity for the businesses to diversify trade flows, will be the impetus to modernize Ukrainian enterprises for the production of goods with high added value for the export to Canada.