Prime Minister Stephen Harper has announced a free trade agreement with Ukraine in yet another show of support for the troubled European country.
"This is increasing economic opportunity for Canadians and Ukrainians," Harper told reporters Tuesday as he met with Ukrainian Prime Minister Arseniy Yatsenyuk at Meech Lake in Quebec.
The agreement would eliminate 99.9 per cent of tariffs on current imports from Ukraine into Canada, and 86 per cent of Ukrainian tariffs on Canadian products, including tariffs on industrial goods, forestry and wood products, fish and seafood products, grains and beef.
Canadian pork producers would continue to face trade barriers.
Harper said the trade agreement will help Ukraine move away from Russian influence and toward “a western future, a future of prosperity.”
Yatsenyuk agreed.
"You, together with our international friends and partners, you are the flagship in supporting Ukraine in our quest and fight against the Russian-led terrorists,” he said.
Paul Grod, president of the Ukranian Canadian Congress, told CTV’s News Channel that amid continued strife with neighbouring Russia, Ukraine is “ripe” for investment and trade.
“Russia’s attempts to destabilize Ukraine’s economic has essentially shut down access of Ukrainian goods to the Russian market, so Ukraine is looking for new trade markets,” he said.
Trade between Canada and Ukraine was valued at $244 million in 2014. Canada has provided the embattled country approximately $400 million in low-interest loans since massive political upheaval began there in 2013.
Ukraine has approximately 44 million people and a Gross Domestic Product estimated at $373 billion. Canada has a smaller population of 35 million and a much larger GDP estimated at $1.579 trillion.
The Canada-Ukraine Free Trade Agreement would require parliamentary approval.
Canada has concluded free trade negotiations with 39 countries since 2006, including a tentative deal with the European Union.
With files from The Canadian Press
