March 15, 2017 - by Derek Fraser, Centre for Global Studies, University of Victoria
On March 14 the Ukrainian Parliament ratified the Free Trade Agreement between Canada and Ukraine. The Agreement also received on 7 March second reading in the Canadian Senate. The completion of the ratification process of the Agreement will mark a step forward in the development relations between the two countries. The Agreement. in addition to providing benefits for Canadian businesses, should support economic reform and development in Ukraine.
Canada and Ukraine also have a Foreign Investment Promotion and Protection Agreement (1995), a bilateral Convention for the Avoidance of Double Taxation (1996) and a bilateral Air Transport Agreement (1998). Since the proclamation of Ukrainian independence in December 1991, when Canada was the first Western country to recognize the new state, Canada has backed Ukrainian independence, democracy and reform, with, among other things, development assistance and the Canadian military training programme. Total disbursements of Canada in 2014-15 were $505.9 millions.