Canada announces the strengthening of trade relations with Ukraine.

The Canadian Ministry, led by Mary Ng, met with Ukrainian deputy minister Yulia Svyrydenko to discuss further strengthening of bilateral relations through trade. The ministers announced that Canada and Ukraine would proceed with negotiations on the modernization of the Canada-Ukraine Free Trade Agreement (CUFTA). A modernized CUFTA will further expand Canada and Ukraine’s commercial ties, building on the over $300M in bilateral trade between the two countries. This strengthening of economic cooperation expands upon the $120M loan Canada offered to Ukraine on January 21, 2022. The loan will reinforce Ukraine’s economy amid Russia’s aggressive efforts to destabilize Ukraine’s economic system, according to a press release from the Canadian Ministry.