Bìznes Inform (Mar 2017)
The Prospects for Ukrainian-Canadian Relations in the Context of Signing the Canada-Ukraine Free Trade Agreement
Abstract
The article characterizes the main benefits for Ukraine from bringing into force the Deep and Comprehensive Free Trade Area with the EU (DCFTA) and the Canada-Ukraine Free Trade Agreement (CUFTA): mutual displacement of nontariff barriers in the trade; rules of origin; trade in services and attraction of investments. The dynamics of import and export flows between Ukraine and Canada have been analyzed and it has been proved that the countries are not strategic partners, although in the commodity structure of exports and imports each of them there are products that can enhance the overall turnover. The general dependence of Ukraine from imports from Canada has been explored through the dynamics of changes in the export-import coverage. It has been specified that bringing into force the agreement (CUFTA) will contribute to the support of the Ukrainian enterprises in entering new markets, deepening the trade ties and further strengthening the bilateral relations between Canada and Ukraine; increased cooperation, greater transparency in the issues of regulation and reducing the operating costs for businesses; production cooperation. The expert perspectives of the product groups for which Ukraine is the largest exporter, and Canada – the importer, have been provided.
