Taiwanese film director Hou Hsiao-Hsien received the grand prix of the Golden Apricot Third International Film Festival for "Three Times" film. "Legend of Time" by Spanish film director Isaak Lokust and "Return to Armenia" by French film director Robert Gudiguian shared the second place.

"Worker's Death" shot by Austrian film director Michael Glavoger won the award for best documentary. The second prize went to Brazilian Markus Pradu ("Estamira") and Swedish Gunar Bergrdal ("Ludmila and Anatoly").

The documentary "Residents of Forgotten Island" by Armenian film director Hrant Hakobian received the first award in the Armenian Panorama nomination.

Honorary guests of the festival - Armenian film director Artavazd Peleshian, well known Italian film director Marco Bellocchio, Iranian cinematographer Rakhshan Bani-Etemad, U.S. documentalist Godfrey Reggio and outstanding screen writer Tonino Guerra -were handed Parajanov's awards for contribution to the development of world cinematography.