Upgraded Canada-Ukraine FTA Takes Effect

A new, “modernized” Canada-Ukraine free trade agreement took effect July 1 that maintains the preferential market access outlined in the two countries' original deal from 2017 while adding new language to further “enhance trade” and incorporate provisions on labor, the environment and more, Canada said this week. “The modernized CUFTA will enhance trade, increase economic cooperation” and “signals Canada’s unwavering commitment to Ukraine’s long-term security, stability and economic recovery following Russia’s full-scale invasion of the country,” Canada said. Mary Ng, Canada’s trade minister, said “when the war is over, Canadian businesses and exporters will be ready to help rebuild the Ukraine of tomorrow.”