Ukraine may become the production center of goods, directed to international markets, for Canadian companies, Economic Truth reports.
This was written by Minister of Economic Development and Trade Stepan Kubiv in the column for The Globe and Mail, UNIAN reports.
“What can Ukraine offer Canada? In the world of global production networks, where the production strives for efficiency, Ukraine offers itself as the highly qualified, cheap production center of goods for Canadian companies”, the Minister said.
According to him, Ukrainian IT-outsourcing services improved, and Ukrainian companies have opportunities for meeting needs of the most outstanding world brands.
Kubiv also emphasized that Ukraine has a huge agricultural and infrastructural potential, which may serve as the basis for economic networking with Canada.
It should be reminded that the Ministry of Economic Development and Trade expects for signing the Free Trade Area Agreement between Ukraine and Canada on July 11-12 during the official visit of Prime-Minister of Canada Justin Trudo.
As per MEDT calculations, the free trade area will represent the lifting of trade restrictions and full annulment of sales duties for main product groups within the grace period of 3-7 years.
In particular, after the agreement comes into force, sales duties will be annulled for fish, grain crops, wines, juices, bakery products as well as clothes, metal products, components and electrical goods.
Within 3-7 years the duties for meat, eggs, vegetables, dairy products as well as construction materials, engineering goods, including components for planes, cars and tractors, will be annulled.
In addition, the document provides the opportunity for Ukrainian and Canadian companies to participate in public procurement of both countries.
The Ukrainian-Canadian Business Forum took place on June 20 and gathered more than 400 participants.
During the forum, the Ukrainian governmental delegation, headed by First Vice Prime Minister Stepan Cubiv presented main achievements of the government for last months as well as plans for further deregulation and privatization.
