WASHINGTON (Sputnik) – The Canada-Ukraine free trade agreement (CUFTA) has been introduced to the Canadian House of Commons for consideration and implementation, Minister of International Trade Chrystia Freeland announced on Thursday.
"We are one step closer to being able to reap the benefits of the Canada-Ukraine Free Trade Agreement, which will generate opportunities for Canadians and Ukrainians alike," Freeland stated.
In July 2016, Canada and Ukraine signed CUFTA, now the agreement needs to go through stages of the legislative process to get ratified.
"Canada is committed to the timely ratification of CUFTA so Canadians and Ukrainians alike can take advantage of its benefits as soon as possible," Freeland said.
Under the agreement, Canada will eliminate duties on 99.9 percent of imports from Ukraine, while Kiev will drop 86 percent of tariffs on Canadian exports, according to the release
In 2015, bilateral trade between Ottawa and Kiev totaled some $278 million.
