OREANDA-NEWS. November 23, 2011. Positive dynamics of economic cooperation between Ukraine and Lithuania continues strengthening, President Viktor Yanukovych said at Ukrainian-Lithuanian Business Forum.

"Positive trends in our bilateral cooperation were particularly evident last year, and this year, their dynamics continues to strengthen," he said.

The President drew particular attention to the intensity of trade and economic relations between the two countries. "This year, we have reached a turnover of approximately \\$1 billion. The potential of development of this figure is huge, " he said. He also suggested that future development of the economies of different countries has a huge potential in the inter-regional dimension.

Viktor Yanukovych also stressed the need to further improve the legal framework of Ukrainian-Lithuanian relations. In this context he noted the effective work of the relevant bilateral commission.

Lithuanian President Dalia Grybauskaite, for her part, praised the results of her today’s meeting with the President of Ukraine and the documents signed today. She said Ukrainian-Lithuanian economic relations are very important, because they are the foundation of political relations.

"I am highlighting that fact because political relations cycles coincide with the economic cycles. I wish that the economic cycle did not cool down, that it was intense, served as a basis for further warming up and acceleration of the political cycle," the President of Lithuania said.

Presidents of Ukraine and Lithuania are ready to assist the work of businessmen, Dalia Grybauskaite said. "Economic cooperation between our states is very important for us," she added.

The President of Lithuania praised the Memorandum of Understanding between the Ministry of Infrastructure of Ukraine and the Ministry of Transportation and Communications of Lithuania signed today. "It is very important for Ukraine's integration into the European community, for the economic development between our countries,” she said.