Perspectives of Russia's International Innovation Cooperation: A Challenge for the EU States

Nowadays, innovation activity is one of the key priorities of every competitive economy. As European Union is the most important trading partner for Russia, the focus is on the potential of their common international innovation cooperation. The article provides briefly with the Russian innovation environment including financial instruments and infrastructural projects. Further, there is an overview of EU funding tools supporting the innovation cooperation with Russia. Finally, the article adverts to a well developing innovation cooperation with Finland. Regrettably, this cooperation is still oriented on exports of Finnish high-tech goods to Russia and the upgrading of existing goods together. Creating of new products and services is still in the initial stage.