On July, 2nd the Co-Production Treaty on Film Production has been signed between Ukraine and Canada. While Canada has about 60 working treaties it is only a third one for Ukraine. The others are with France and Israel. Co-production treaties are essential for obtaining national film status in both co-producing parties. In turn, national films are subject to tax-related and regulatory preferences in both countries. The treaty that has been signed is still to be ratified by Ukrainian parliament.