All my happy icons are inactive, so this will have to do.

He actually likes Archer. I think that's saying a lot since Cobra Commander doesn't really like many people. With Archer (and Kimblee) around, the things Cobra wants to happen actually happen and that's something he really really approves of.

That being said, he'd also stab Archer in the back if it benefited him, so that feeling is also mutual. He doesn't plan to, but if it came down to a situation where Archer is in between Cobra Commander and what he wants, he's totally hiring someone to take him out ): But that's probably not going to happen anytime soon if ever.