"The situation in Ukraine wasn't so easy. It became particularly tense before the ratification of the agreement on the Single Economic Space," Kuchma said. "But the fact that our parliament did ratify this agreement proves that we will have no problems in this regard in the future and we will cooperate closely to resolve all the issues that may arise."
Putin called the agreements "balanced and mutually advantageous."
Russia and Ukraine have been locked in a territorial dispute since last year over the Kerch Strait, which connects the Sea of Azov and the Black Sea.
Putin and Kuchma signed an agreement that gives both countries equal usage of the Azov Sea and the strait, but leaves open for negotiation the question of mineral rights in the Sea of Azov region, which has proven natural-gas reserves.