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 Rada ratifies Canada-Ukraine free trade deal

Ukrainian lawmakers have voted for the ratification of the Canada-Ukraine Free Trade Agreement.

The decision has been supported by 272 MPs with a required minimum of 226 votes, Censor.NET reports citing Ukrainski Novyny.

The FTA retains certain trade restrictions introduced by both sides.

Canada cancels duties on 98 percent of Ukrainian products, mainly agricultural ones, with the exception of poultry, dairy products, cheeses and eggs that are still subject to quotas. The document cancels duties on industrial products from Ukraine, excluding cars, whose duties are to dwindle to zero within seven years.

Read more: Canada's parliament, government unwavering in their support to Ukraine, - FM Freeland

Almost 80 percent of imports from Canada will not be subject to duties. Some duties will be phased out over a period of 3-7 years. In particular, this applies to sheep and fowl, beef, lamb, nuts, pork offal, fruit, oilseeds, vegetable oil, fresh pork, poultry, milk, cream, eggs, honey and vegetables.

The Ministry of Economic Development and Trade expects that after the launch of the FTA Ukraine may see the growth in exports of high-processed food products, including confectionery, juices, sunflower oil, alcoholic beverages.

Watch more: "Russia's actions are not going to be tolerated," - Canada's Defense Minister on extension of military training mission in Ukraine. VIDEO

July 1, 2016, Ukraine and Canada signed an agreement on the establishment of a free trade zone.

Feb. 15, the document was ratified by the lower house of the Canadian parliament - the House of Commons.

March 8, the agreement passed the second reading by the upper house - Canada's Senate.

The final vote on the deal is expected within a month.
 
 
 
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