OREANDA-NEWS. November 13, 2010. The Prime Minister of Ukraine Mykola Azarov hopes for agreement on avoidance of double taxation between Ukraine and Cyprus. He stated this during a meeting with the President of the House of Representatives of the Republic of Cyprus Marios Karoyan.

"For many years we are in talks to sign convention on avoiding double taxation. Ten years ago when I worked as the Head of Tax Administration, I started to deal with that matter. I think it's time to put an end to this process and to sign an agreement" - Mykola Azarov emphasized. He added that Cyprus is an important investment partner of Ukraine and expressed hope that the forthcoming visit of the President of Cyprus to Ukraine would contribute boosting bilateral relations.

In addition, the Prime Minister thanked the Cypriot side for its support of the European integration course of our country. "I think that Cyprus has interest in introducing a visa-free regime with Ukraine, as this will increase the number of Ukrainian tourists" - he said.

The President of the House of Representatives of the Republic of Cyprus said that soon visit of Cyprus Finance Minister to Ukraine is expected "to conclude the negotiations and we hope that this agreement will be signed" - he said. Marios Karoyan stressed that his country supports Ukraine to join the EU. "With regard to the Ukraine to join the EU, we fully support it. Ukraine can always count on the support of Cyprus. He also said that Cyprus supports granting Ukraine visa-free regime for short trips of our citizens to the EU. He expressed interest in Cypriot companies to invest in the tourism industry in Ukraine.

To enhance bilateral cooperation the parties have agreed to hold joint Ukrainian-Cypriot business forum in Kyiv in the first quarter of 2011.