YEREVAN, AUGUST 24, NOYAN TAPAN. The level of relations between Ukraine and Armenia is quite high. The Ukrainian Ambassador to Armenia Olexandr Bozhko stated this in an interview with NT correspondent. He said that at the present time, the legal and contractual basis of the bilateral relations includes 65 documents, the major of which is the Agreement on Friendship and Cooperation between Ukraine and Armenia signed on May 14, 1996. According to him, over the past decade, the presidents of the two countries have met more than ten times. Besides, recently consultations on a permanent basis resumed between the foreign ministries of Ukraine and Armenia. As for economic cooperation, today Ukraine is the second largest trade partner of Armenia among CIS countries and the fifth one - among all the countries in the world. In 2005, the bilateral trade turnover grew by 40% and exceeded 110 mln USD, while in the first half of this year it grew by one third. Armenia imports equipment (for example, Bogdan buses), metals, foodstuffs, etc. from Ukraine. The ambassador pointed out the importance of the Ilyichevsk - Poti-Batumi ferry link for Armenia's economy. In this connection O. Bozhko mentioned the estimation of Armenian businessmen, according to which this ferry link operated by Ukrferry company is in essence a "life road" for Armenia, as the main flows of Armenian goods pass through it to Ukraine and on to Europe, and in the opposite direction. At the same time, Olexandr Bozhko noted that the potential for the bilateral trade and economic cooperation has not been exhausted. He expects that in the visible future, the sides will start implementing joint programs and projects in such spheres as energy, transport, agricultural and industrial complex, and others. In the ambassador's opinion, there are great opportunities for increasing mutual investments. "We just start developing this direction," he said. As an example, the ambassador mentioned the acquisition of 35% of Arminvestbank's shares by Ukrprombank in April 2006.

---