Many factors, that have both negative and positive components, influence the relations betweenUkraineandRomania. EU enlargement and its policy towardsUkraineis one of the positive factors contributing to a constructive dialogue and resolution of disputes between countries. The Ukrainian and Romanian perception of the European Neighborhood Policy and its regional initiatives in the east and south-east is examined in the article.Romaniasupports the EU's policy and intensification of its contacts with neighboring countries, primarilyMoldovaandUkraine, considering itself as a link betweenEuropeand its strategically important neighboring regions. ForUkraine, ENP initiatives and instruments are an additional basis for deepening cooperation withRomania, enhancing confidence and security in the region, economic development, and energy security, moving closer to European standards and bringing the two nations closer.Previous experience of cooperation has already demonstrated that the parties are interested in the implementation of cross-border cooperation projects that cover a wide range of common interests; improving cross-border and transport infrastructure; using the potential of the Danube and the Black Sea basins.Analyzing the results of the Ukrainian-Romanian cooperation, the obstacles and achievements that should be considered as strategic priorities for further cooperation are identified. Among the obstacles are, first of all, different administrative structures, lack of direct links between the border regions, discrepancy between the priorities of CBC programmes and the local strategies of regional development, limited financial resources, low level of economic development of the territories, divergence in the economic structure and investment focus between the states, unbalanced distribution of culture institutions, lack of coordination in scientific research, and lack of information sharing and advertising activity. At the same time, Romania's EU membership, the transit of the pan-European corridors through the bordering territories, advantageous climate and landscape, ethnic and cultural diversity, and variety of touristic as well as healing and wellness objects - all these factors serve as a potential for further interaction between Ukraine and Romania.