Ukraine hopes to obtain the status of an observer in the Customs Union and then start the consideration of a number of documents for participation in the union's work, President of Ukraine Viktor Yanukovych has said.

"Ukraine as an observer might begin considering the provisions of the Customs Union, and their number exceeds 200. All of these provisions have to undergo internal state procedures, and this requires time. Ukraine, on receiving the status of an observer, might get access to these documents, and we'll start considering them," Yanukovych said at a meeting with Kazakhstan Prime Minister Serik Akhmetov.

According to him, Ukraine continues to maintain the position that it could cooperate with the Customs Union as an observer.

"We're greatly concerned about the process of normalizing relations with the Customs Union, and I presented our latest proposals on the format of our relations at a meeting with the Russian president in Moscow. At the current stage, we see the format in the status of an observer," Yanukovych said.

"We're in favor of finding mutually acceptable solutions that would expand our capabilities and create opportunities for the free promotion of our products and services," the president said.

He hopes that such opportunities will be found soon.

"The economic crisis observed in the world has affected virtually all countries. Today it forces us to look for opportunities to mitigate the consequences of the economic crisis. Therefore the process of trade opposition looks unnatural," Yanukovych said.

According to the president, both sides - Ukraine and the countries of the Customs Union – see losses in the process.

"After all, we must take care of aligning trade balance between our countries to avoid its deficit, which directly affects foreign exchange reserves," said the head of state.

"Therefore, restrictions from one side force the other side to impose similar restrictions," said the president of Ukraine.

He also said that Ukraine would like to avoid such a situation.