This article provides an overview of the new opportunities for #economic cooperation between Canada and Ukraine, in particular expansion of export of pork.
Ukraine has approved beef and pork exports from Canadian entities that comply with Ukrainian certification requirements. Ukrainian authorities carried out a successful inspection of a number of Canadian beef and pork producers in September 2015, which resulted in provision of approvals for export to 15 additional Canadian entities, bringing the current total to 27. Canada is the third largest exporter of pork in the world and also one of the leading beef producers.
In 2014, Ukraine’s global imports of beef and pork products amounted to USD 17.1 million and USD 193.6 million respectively. According to Canadian producers of beef and pork, the estimated annual revenues following access to Ukrainian market will generate up to USD 50 million. It is stated that the overall amount of trade turnover between Ukraine and Canada from 2012 to 2014 amounted to approximately USD 300 million annually. The main exports from Canada are agricultural and sea products. It is expected that the trade turnover will significantly increase following launching of the Canadian-Ukrainian free trade zone.
Following successful conclusion of negotiations on completion of the Canada-Ukraine Free Trade Agreement in July 2015, Canada and Ukraine are looking for new opportunities to expand mutual economic cooperation. We note that the text of the agreement establishing free trade zone between two countries is currently under legal review and, following its signing by the parties, will require respective domestic implementation processes. The agreement will result in elimination of all non-agricultural tariffs and most of Ukraine’s agricultural tariffs, including on Canadian beef, pork, pulses, grains, fish and seafood, canola oil, processed foods, and animal feed.
Also, we note that the EU-Ukraine free trade zone was launched on 1 January 2016. In addition, it was announced that in 2016 Ukraine seeks to conclude free trade zone agreements with Israel and Turkey.