Ukraine and Cyprus are planning to sign intergovernmental agreements on shipping and the cancellation of double taxation in the near future.

"We will sign important agreements with Cyprus soon," a member of the Regions Party parliamentary faction and the deputy chairman of the parliamentary committee on foreign affairs, Leonid Kozhara, said at a press conference hosted by Interfax-Ukraine on Friday.

The documents are being finalized at the moment, and they are related to the determination of the status of vessels flying the flags of both countries, as well as the cancellation of double taxation of certain services, the MP said.

Kozhara added that the agreements would strengthen ties between the countries.

In turn, Secretary General of the Central Committee of the Progressive Party of Working People of Cyprus Andros Kyprianou expressed hope that the documents would be signed during the next visit of Ukrainian President Viktor Yanukovych to Cyprus.

"Ukrainian President Viktor Yanukovych should visit the Republic of Cyprus, and we hope that these two agreements will be finalized and signed in the capital of our country," he said.

As reported, Yanukovych is to make a visit to Cyprus in November 2012.