By majority vote the Lower House of the Federal Parliament of Canada supported the ratification of Agreement on free trade zone with Ukraine in the third and final reading.

The agreement is to be further submitted to the Upper House of Parliament (the Senate), and then signed by the Governor-General, which is the final stage for the document to enter into legal force.

Earlier, July 11, 2016, Ukraine and Canada signed an agreement on free trade zone, which removes trade barriers and completely abolishes taxes on main product groups. December 14, 2016, the Lower House of the Parliament of Canada ratified the agreement on free trade area with Ukraine.

A free trade zone between the two countries removes trade restrictions and completely cancels the trading fee for the main product groups during the grace period (3-7 years).

Immediately after the agreement comes into force, trade tariffs to be abolished on fish, grains, wine, juices, baked goods, as well as clothing, metal products, and electrical engineering.

Moreover, within 3-7 years, fees abolished on a number of agricultural products, construction materials, engineering products, including components for aircrafts, cars and tractors.

In addition, the document provides an opportunity for Ukrainian and Canadian companies to participate in public procurement in both countries.

Photo: Internet