Ukraine, Canada to Sign Free Trade Agreement in Coming Days - Minister

Ukraine’s Economy Minister Aivaras Abromavicius claims that Ukraine and Canada will soon sign a free trade agreement.

WASHINGTON (Sputnik) — Ukraine and Canada will soon sign a free trade agreement, Ukraine’s Economy Minister Aivaras Abromavicius told Sputnik on Monday.

“There have been a couple positive news today for investors,” Abromavicius stated on the sidelines of the US-Ukraine Business Forum in Washington, DC.

“First,… the free trade agreement with Canada, which will be signed in the coming days.”

Abromavicius explained the agreement will open a path to increase Ukraine’s trade with Canada.

“Besides, it will serve as a signal for investors that our countries became closer, and there will be better protection of interests in the two countries,” he explained.

In June 2015, Ukrainian Prime Minister Arseniy Yatsenyuk and his Canadian counterpart Stephen Harper discussed the free trade deal in Ukraine. Yatsenyuk stated than the agreement will stimulate mutual investments between Canada and Ukraine and will allow the access of Ukrainian goods to the Canadian market.

Abromavicius said other good news was the announcement during the Forum of Ukraine’s decision to reduce its oil and gas extraction royalty tax rates from 55 percent to 29 percent.

The US-Ukraine Business Forum is held for the first time. Aiming to help Ukraine become a more favourable place for American businesses, it brought together US government officials, CEOs and business leaders and Ukraine policymakers.