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June 18, 2010

Canada-Ukraine Free Trade negotiations are underway

Canada's Minister of International Trade, Peter Van Loan, announced this week that the first round of free trade negotiations between Canada and Ukraine took place in Kyiv from May 17 to 21.

The successful conclusion of a free trade agreement with Ukraine could further open markets for Canadian exports, ranging from agricultural and seafood products to machinery and pharmaceuticals. An agreement could also help to address non-tariff barriers.

Canada and Ukraine already enjoy positive commercial relations. Canadian merchandise exports were $112.1 million in 2009. Key exports to Ukraine include fish and seafood, pharmaceuticals, machinery, meat (mainly pork), and electrical/electronic equipment. Merchandise imports from Ukraine in 2009 totalled $94.3 million with fertilizers, iron and steel products, petroleum and railway/locomotive components making up nearly half of these products.

Ukraine is one of the largest countries in Europe, and home to a highly educated population of 46 million, a diversified industrial base and substantial natural resources.

The next round of negotiations is expected to take place in the fall. The Government of Canada consulted with Canadians in advance of launching negotiations, and found support for a Canada-Ukraine free trade agreement.