More than 17 bilateral agreements have been signed between India and Ukraine, including agreements on Co-operation in Science and Technology, Foreign Office Consultation, Co-operation in Space Research, Avoidance of Double Taxation and Promotion and Protection of Investments.

India has friendly relations with Ukraine. Annual Foreign Office consultations are held at Secretary level. The Deputy Foreign Minister in charge of the Asia region represents the Ukrainian side in these consultations. Ukraine has been positively co-operating with India at the international level also. Ukraine supports the resolution of the issue of Jammu & Kashmir on the basis of Shimla agreement. Ukraine also supports reforms of the UN structure.

India Ukraine trade relations have been developing at a very fast pace. There has been a threefold increase in the India Ukraine trade during 2003-2005 and it has exceeded US$1 billion. Ukraine imports from India have doubled and stand at US$3,214 million in 2006, while Ukraine exports to India have increased by 3.6 times and stands at US$7,369 million in 2006. The total turnover in India Ukraine trade during 2005-2006 has exceeded US$3.1 billion (as of January, 2014). The main items being imported by Ukraine from India are drugs, pharmaceutical production,Ores and minerals, tobacco products, tea, coffee, spices, silk and jute. The main items imported by India from Ukraine are chemicals, equipment, machines and engines.

After Russia, Ukraine is India’s second largest trading partner in the Commonwealth of Independent States (CIS).