A cubic kilometer scale neutrino telescope Baikal-GVD is currently under construction in Lake Baikal. Baikal-GVD is designed to detect Cerenkov radiation from products of astrophysical neutrino interactions with Baikal water by a lattice of photodetectors submerged between the depths of 1275 and 730 m. The detector components are mounted on flexible strings and can drift from their initial positions upwards to tens of meters. This introduces positioning uncertainty which translates into a timing error for Cerenkov signal registration. A spatial positioning system has been developed to resolve this issue. In this contribution, we present the status of this system, results of acoustic measurements and an estimate of positioning error for an individual component.