Agreement between Ukraine and Canada on Economic Cooperation
signed during the State Visit of President Kuchma to Canada,
Oct. 24, 1994
(Source: Canada-Ukraine Monitor, vol. 3, no. 1, Winter 1994-95)
The Government of Ukraine and the Government of Canada hereinafter referred to collectively as
"Parties" and individually as "Party",
Desiring to strengthen the traditional links of warm friendship and the cordial relations that exist
between the two countries, as reflected in the Declaration on Special Partnership signed on March 31, 1994;
Taking into Consideration the Agreement between the Government of Canada and the Government of
Ukraine on Trade and Commerce, signed at Kyiv on March 31, 1994, and their Agreement for the Promotion
and Protection of Investments, signed on October 24, 1994;
Recognizing that broader and more diversified links between their public and private sectors would be
of mutual benefit;
Conscious of the importance of an open international trading system based on market principles and a
liberalized regime for foreign investment;
Desiring to develop, promote and expand trade and investment, including through financial, industrial,
scientific and technological cooperation between the two countries; and
Resolving to undertake new and energetic efforts to develop and expand this cooperation to their
mutual benefit;
Have agreed as follows:
ARTICLE I
OBJECTIVES
The objectives of this Agreement are to promote economic cooperation, trade and investment between
the Parties, and to foster financial, industrial, scientific and technological cooperations between the companies,
enterprises, Government agencies and other organizations of the Parties. The Parties will seek to attain these
objectives through the expansion of two-way trade, the facilitation of reciprocal market access, and the
identification of mutually beneficial commercial and investment opportunities.
ARTICLE II
1. The Parties share a commitment to market principles with respect to international trade and foreign
investment.
2. The Parties shall encourage and facilitate, and on the basis of fair and equitable treatment, direct contact
and broader cooperation between their business and academic communities, associations, organizations, and
Government agencies, as set out in paragraphs 3 through 5 of this Article.
3. The Parties shall exchange information on economic development priorities, national economic plans and
forecasts, and other significant policies and developments that have an impact on economic relations between
the two countries.
4. Each Party shall:
(a) promote and support trade and investment missions, market analyses, links between business
communities and institutions, and other initiatives that bring together potential business partners;
(b) provide appropriate trade, investment and market information to the other Party;
(c) provide appropriate information to the other Party at an early stage on significant forthcoming public
sector industrial projects;
(d) identify and facilitate trade and investment opportunities by:
(i) ensuring that its laws, regulations, procedures and administrative rulings of general
application respecting any matter covered by this Agreement are promptly published or otherwise
made available to interested persons;
(ii) identifying specific projects and sectors of potential interest for cooperation;
(iii)informing its business communities of investment opportunities in the territory of the other Party;
(iv) encouraging the expansion of financial and banking cooperation;
(v) assisting in identifying appropriate sources of possible project financing;
(vi) ensuring the foreign investment and registration procedures are not unnecessarily
burdensome;
(vii) facilitating, where appropriate, the staging of industrial fairs, exhibitions and other promotional
activities;
(viii) encouraging business communities, particularly small and medium-sized enterprises, in their
efforts to develop joint enterprises and other cooperative business activities;
(ix) facilitating, on the basis of reciprocity, the entry and exit of public and private sector experts,
investors, business representatives, scientists, and technicians, as well as material and equipment
necessary for the fulfilment of activities falling within the scope of this Agreement;
(x) encouraging joint activities between the companies, enterprises, and other organizations of
the Parties, in exporting to third countries; and
(xi) reviewing impediments to trade and investment that might hinder achievement of the
objectives of this Agreement, with the aim of eliminating such impediments.
5. The Parties shall encourage, support and facilitate:
(a) the exchange of information on technologies and know-how;
b) the conclusion of licensing arrangements and industrial consulting agreements;
(c) the industrial application of research and development results and the transfer of technology in order to
promote the application, adaptation and improvement of existing and new high technology products, processes
and management skills;
(d) initiatives to improve quality control and standards for products, notably those for export;
(e) joint projects or other collaborative ventures involving scientific and technological communities in the public
and private sectors.
ARTICLE III
The principal sectors of cooperation between the Parties may include the following:
(i) energy, particularly related to oil and gas exploration, and safety issues related to the generation of
nuclear power;
(ii) agriculture, and food processing, including the storage, handling, distribution and manufacture of
equipment;
(iii) conversion of the Ukrainian defence industry to civilian industries;
(iv) natural resources, including resource management in forestry and related industries, fisheries,
livestock and mining, including geological exploration, mine development and metallurgy;
(v) telecommunications and information technology;
(vi) construction, particularly urban dwellings and building materials;
(vii) aerospace industry;
(viii) development of transport infrastructure, distribution services and manufacture of means of transportation
and associated equipment;
(ix) environmental protection;
(x) professional business services, particularly in finance and privatization;
(xi) health care services and consumer health products;
(xii) petrochemicals;
and any other fields of cooperation as may be agreed.
ARTICLE IV
FINANCIAL SUPPORT FOR COOPERATION
The Parties reaffirm:
(a) the significance of credit and financial support, on mutually beneficial terms and conditions, for purposes of
the stable and effective development of economic and commercial cooperation; and
(b) their continued readiness to cooperate within the framework of international financial institutions.
ARTICLE V
INTERGOVERNMENTAL ECONOMIC
COMMISSION
1. the Parties hereby establish an Intergovernmental Economic Commission, comprising Ministerial-level
representatives of the Parties or their designees.
2. The Commission shall:
(a) supervise the implementation of this Agreement;
(b) supervise the work of any committees and working groups established under this Agreement; and
(c) consider any other matter that may affect the eration of this Agreement.
3. The Commission may:
(a) establish, and delegate responsibilities to, ad hoc or standing committees, working groups or expert
groups;
(b) invite business representatives of either Party to participate in its activities, or the activities of any
committees, working groups or expert groups;
(c) consider issues related to the Agreement on Trade and Commerce; and
(d) take such other action in the exercise of its functions as the Parties may agree.
4. The Commission shall convene at periodic intervals in regular session, with meetings alternating between
Canada and Ukraine. Regular sessions of the Commission shall be chaired successively by each Party.
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