Ukrainian President Viktor Yanukovych has noted the importance of his visit to Cyprus for the development of bilateral relations.

"Given the fact that Cyprus is currently presiding in the European Union, it is important for our country in terms of European integration," he told reporters in Nicosia on Friday.

Apart from the fact that this is the first official visit of the Ukrainian president to Cyprus in two years, Yanukovych said that they had actually started a new phase in relations between Ukraine and Cyprus.

The Ukrainian president also expressed his hope that this phase will be effective from the point of view of economy.

Commenting on the results of his talks with his Cypriot counterpart Demetris Christofias, Yanukovych noted that they outlined a number of guidelines for bilateral cooperation.

In particular, the parties agreed on interregional cooperation between Ukraine and Cyprus.

"Filling our bilateral relations with specific content is the main purpose of the visit," Yanukovych said.