24 May 2017
"This is a great step toward increasing the investment attractiveness of Ukraine" - CEO Avellana Gold on ratification of the Agreement on Trade in Canada and Ukraine
Senate of Canada ratified an agreement on free trade with Ukraine.The Senate Committee on Foreign Affairs and International Trade is confident the trade deal will benefit both countries’ economies and signal Canada’s strong, ongoing support for an emerging democracy and a longstanding partner. Free Trade Agreement Implementation Act was adopted with one accord. This is more than just a free trade agreement. In addition to the reduction of tariffs (Ukrainian goods entering Canada would be duty-free), it includes a clause on anti-corruption mirroring the Criminal Code of Canada, as well as environmental protection requirements. For Canadian companies, the deal will give unfettered access to a market of 45 million potential customers. Acknowledging that the Ukrainian government is making great strides towards democracy, committee members look forward to the day when Ukrainians can enjoy the freedoms and benefits that come with living in a vibrant, thriving democracy. The committee believes this agreement is an important signal of Canada’s commitment to openness in trade and investment and will further deepen Canadian-Ukrainian relations. "We welcome this long-awaited decision. We also consider it a great step in increasing the investment attractiveness of Ukraine. A free trade agreement with Ukraine opens a lot of opportunities", - says Brian Savage, CEO Avellana Gold.