The Honourable Mary Ng, Minister of Small Business, Export Promotion, and International Trade spoke with Ihor Petrashko, Ukraine’s Minister for Development of Economy, Trade and Agriculture concerning bilateral trade among both countries.
The ministers spoke about the importance of cooperation and coordination to build a strong global economic recovery from COVID-19.
They also discussed the advancement of the Canada-Ukraine Free Trade Agreement (CUFTA) and its potential benefits to people across Canada and Ukraine, especially small businesses, and women in trade. Since the CUFTA entered into force in 2017, Canada-Ukraine 2-way bilateral trade has grown, totaling nearly $300 million in 2019. This has meant new opportunities for Canadian and Ukrainian businesses alike, and good jobs in both countries.
Minister Ng underlined Canada’s leadership on advancing rules-based international trade through the Ottawa Group on WTO reform.
On 14 May 2020, the Honourable Mary Ng issued a joint commitment with WTO members to support small businesses just within a week of agreeing to a joint commitment with WTO members to maintain predictable and rules-based trade.
The meeting saw both ministers agree towards continuing to work closely together to promote rules-based trade and strong supply chains. This work is essential to ensure people continue to have access to essential goods like food and medicine at this challenging time, as well as to ensure our recovery is sustainable and benefits everyone.