Canada has abolished import duties on Ukrainian goods for another year

The Canadian government has extended the validity of the resolution, which provides for the abolition of customs duties on imports of Ukrainian goods, for another 12 months.

Thus, duty-free access to the Canadian market for Ukrainian goods will be valid until June 9, 2026, the press service of the Ministry of Economy of Ukraine reports.

Recall that Canada abolished duties for Ukrainian goods from June 9, 2022. Initially, the decision was made for a year, and later its validity was extended annually.

However, preferential exports of Ukrainian goods to Canada remain relatively insignificant.

According to the Ministry of Economy, since the introduction of the preferential regime in 2022, Ukrainian exports under this program to Canada amounted to over $35 million, and Canadian importers saved $8.5 million in duties. Continuing the abolition of duties for another year will allow them to save another $1.2 million.

Total exports to Canada in 2024 amounted to $152 million.

At the same time, since the beginning of the full-scale invasion, Canada has allocated more than $8 billion in support of Ukraine, the Ministry of Economy added.

As reported, in April 2024, the Verkhovna Rada ratified the updated Free Trade Agreement between Ukraine and Canada. This is an amendment to the free trade agreement between the two countries, which was concluded back in 2017. In particular, they extend its scope to the services sector.

The original Free Trade Agreement between Canada and Ukraine entered into force on August 1, 2017 and allowed for the mutual abolition or reduction of import duties on most commodity items.

In September 2023, during a visit to Ottawa, President Volodymyr Zelenskyy, together with Prime Minister Justin Trudeau, signed an updated Agreement, which now also covers trade in services, not just goods, investments, telecommunications, and other promising areas.

According to the results of 2021, trade turnover between Canada and Ukraine reached a record level, approaching $350 million, but decreased after the start of a full-scale war.