At midnight, the free trade area started operating between Ukraine and Canada.

From August 1, Canada opens 98% of its market for Ukrainians, DW reports.

The Ukrainian producers will be able to export, free of customs duties, the processed agricultural products, the commodities of food, textile, chemical, oil and engineering industries to Canada.

The export of some commodities will be free of customs duties only within the set quotas. In particular, it refers to the agricultural products: wheat, barley, eggs, beef and pork.

In its turn, Ukraine obligated to cancel customs rates by 72% of Canadian commodities, in particular, for fish and sea products, cereals, peanuts, juices, mineral water.

The duties for some commodities from Canada will be cancelled not simultaneously, but with the use of transitional periods of 3.5 and 7 years.

The Ukrainian side excluded sugar from the free trade regime, and set quotas for the import of frozen pork, offals and Canadian salo.

The Ministry of Economic Development and Trade of Ukraine forecasts that Ukrainian producers of sunflower oil, confectionery products, alcoholic beverages, beer, juices, clothes, ceramics, Ukrainian metallurgical and chemical complexes will benefit from FTA Agreement with Canada in the immediate future.

In addition, the cancellation of Ukrainian duties for Canadian commodities will lead to state budget losses, amounting to 1.2 million dollars on the first year of the agreement validity. However, the officials expect that soon it will be compensated through increasing foreign investments.

According to the government forecasts, thanks to liberalization of trade with Canada, Ukraine will have the export increased by 3.5% and will annually create 600 new jobs.