Canada has extended for another year – until June 9, 2025 – the exemption of Ukrainian goods from customs duties, the relevant customs notice is published on the website of the Canadian government.
“We are sincerely grateful to our Canadian partners for supporting the Ukrainian economy by increasing exports and temporarily eliminating customs duties and trade fees on imports from Ukraine. This is an invaluable contribution to our resilience,” First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko commented on the decision in a tweet.
This decision ensures the continuation of duty-free imports of Ukrainian products to Canada, which began on June 9, 2022.
According to the State Statistics Service, exports of goods from Ukraine to Canada in the first quarter of 2024 increased by almost 2.7 times to $47.43 million, while imports decreased by 43.9% to $45.42 million.
Overall, exports of goods from Ukraine in the first quarter of this year decreased by 2.8% to $10 billion 60.85 million, while imports increased by 1.7% to $15 billion 751.91 million.
Ukraine has received a CAD2 billion loan from Canada, Prime Minister Denys Shmyhal said on social media site X on Wednesday evening.
“Ukraine has received CAD2 billion from Canada. Vital funds for our resilience… This is a significant investment in global security and peace,” the head of the Ukrainian government said.
“Canada is a reliable partner of Ukraine that supports us in difficult times. Today we have received USD 1.5 billion from Canada. Since February 2022, budgetary assistance has reached USD $5.1 billion,” wrote Finance Minister Sergii Marchenko.
Shmyhal and Marchenko thanked the people and government of Canada for their support of Ukraine.
The Ministry of Finance clarified that the financial assistance was received under the third supplemental agreement, which is a continuation of the original agreement signed on August 8, 2022. The additional loan is provided for a period of 10 years, with an interest rate of 1.5% per annum. The grace period is 4.5 years from the date of disbursement.
As reported, on Wednesday, the state budget of Ukraine received the first tranche of EUR 4.5 billion from the EU under the Ukraine Facility program, while before that, all external revenues amounted to only $1.2 billion since the beginning of the year.
According to the National Bank’s forecasts, Ukraine may receive external financing worth $10 billion or even more between mid-March and the end of April, against the $37.3 billion required in the state budget for the whole year.
Canada will provide additional assistance to Ukraine to ensure “resilience and recovery” in the amount of 129 million Canadian dollars and more than $40 million, the press service of the Canadian government reported.
This was reportedly announced by Canadian Prime Minister Justin Trudeau, who is in Kyiv to mark the second anniversary of Russia’s full-scale invasion of Ukraine.
“Prime Minister Justin Trudeau is visiting Ukraine today with international partners to reaffirm our continued and unwavering support for Ukraine,” the Canadian government said in a statement on its official website on Saturday.
“The Prime Minister of Canada has announced new support for Ukraine’s efforts to build resilience and recovery,” the statement said. It provides for the allocation of 75 million Canadian dollars for demining, cyber support and intelligence support, 15 million Canadian dollars to help create the National Museum of the Holodomor Genocide of 1932 and 1933 in Kyiv, up to 39 million Canadian dollars for mental health assistance, food support and for the reconstruction and restoration of local communities.
It is also reported that more than $22 million will be allocated “in humanitarian assistance to support United Nations and Red Cross partners in providing critical assistance, including emergency medical interventions, protection services, shelter, water, sanitation and nutrition, and promoting compliance with international humanitarian law.” More than $18 million will be allocated to support various projects: “from demining to reducing threats from nuclear or radiological materials and chemical weapons, as well as combating disinformation.”
Earlier, it was reported that President of Ukraine Volodymyr Zelenskyy and Canadian Prime Minister Trudeau signed a Security Agreement in Kyiv, which provides for the allocation of Canadian assistance in the amount of 3 billion Canadian dollars in 2024.
Canada will provide expert support on social and economic recovery to 19 Ukrainian communities under the Community-Led Inclusive Recovery (CLIR) initiative, the press service of the Ministry of Community Development, Territories and Infrastructure said.
“The assistance of the CLIR initiative will allow communities to better understand the priorities of recovery, get the necessary knowledge and tools to develop effective inclusive recovery projects taking into account the needs of all groups of residents,” the press release quoted Deputy Prime Minister for Recovery – Minister of Community Development, Territories and Infrastructure Oleksandr Kubrakov as saying.
Communities in Kyiv region (Baryshevka, Glevakha, Boyarka, Velyka Dymyrka), as well as in Dnipropetrovsk region (Sofiyivska, Pershotravenska, Apostolivska, Zelenodolska) have been selected to participate in the program, Nikolaev (Bashtanka, Berezneguvatoe), Odessa (Shabovka, Belgorod-Dnestrovska), Chernigov (Kholmska, Korpska, Menska), Donetsk and Kharkiv (Bliznyukivska, Saventsy, Balakleya) oblasts.
The experts will provide the selected communities with support in strategic management and planning, building partnerships with international organizations and attracting external investments, developing social services, implementing sustainable development principles, and developing recovery plans and strategies.
The CLIR initiative is implemented by the SURGe Project, an international technical assistance project “Supporting Government Reforms in Ukraine” funded by the Government of Canada.
SURGe is a project on inclusive governance in Ukraine, implemented by Alinea International and funded by the Ministry of Foreign Affairs of Canada.
Japanese automaker Honda Motor Co. is considering the possibility of building an electric vehicle manufacturing plant in Canada, the Nikkei newspaper reports.
Investments in the project could reach 2 trillion yen ($14 billion).
Honda is considering several sites for the construction of the plant, including a site near the company’s existing facility in Ontario. The project may include the creation of facilities for the production of electric vehicle batteries, Nikkei notes.
The automaker intends to make a decision on the site for the construction of the Canadian plant by the end of 2024. The plant is expected to start operating in early 2028.
Honda is preparing to start production of electric vehicles and batteries in the US state of Ohio in 2026, and the Canadian plant will become the second largest Japanese company in North America.
This region accounts for about 40% of all Honda sales.
Canada will provide Ukraine with 650 million Canadian dollars as part of a long-term assistance program for armored vehicles and special medical evacuation vehicles, Prime Minister Justin Trudeau said.
“I have made it clear that our government will help you as long as you need it… We will provide long-term assistance to Ukraine. We are talking about $650 million over three years. This is for armored vehicles and also for special sanitary evacuation vehicles that will be built in the province of Ontario,” he said in a speech to the Canadian Parliament on Friday.
Also, according to him, Canada will continue to provide economic assistance to Ukraine over the next year “to make Ukraine a powerful, dynamic and prosperous country.”
In addition, the prime minister said, Canada will send instructors for F-16s so that Ukraine can make the most of these aircraft. “But our greatest belief is that you will not need this military and financial assistance for a very long time and that peace will return to your country very soon,” he said.
At the same time, he emphasized that “there can be no wrong peace based on compromises with the aggressor.”
“In order to have a lasting peace, we must stand up to Putin. A lasting peace must clearly establish that borders must be respected, regardless of the size of the neighboring army. This peace must restore the right of Ukrainians to determine their future,” Trudeau said.
“What Putin has done is a break with civilization. It is a violation of our common humanity. It is an attempt to destroy the rule-based order that protects our freedom. It is a step toward weakening democracy and establishing autocracy. Putin rules through deception, violence and repression,” the Prime Minister said.
The Prime Minister of Canada also noted that Canada adheres to the principles of the Ukrainian Formula for Peace. “We believe that the world must respect the UN Charter, be based on international law and preserve the territorial integrity of Ukraine,” he concluded.
