scholarly journals Comparative Advantages of National Pharmaceutical Industries through the Prism of New Indicators

2020 ◽  
Vol 89 (2-3) ◽  
pp. 48-58
Author(s):  
O. B. Salikhova
Keyword(s):  
Developing Countries ◽  
Pharmaceutical Industry ◽  
Capacity Building ◽  
Value Added ◽  
Global Market ◽  
High Tech ◽  
Medical Products ◽  
Comparative Advantages ◽  
Pharmaceutical Industries ◽  
Production Facilities

Specific ways of the emergence of new actors in the global market of pharmaceutical goods is investigated, with substantiating the role of transnational corporations (TNC), their investment and technologies in establishing pharmaceutical industries in developing countries. The cases of Puerto Rico and Ireland are taken in order to demonstrate the background for expansion of manufacturing of medicines and medical products and analyze the tendencies in their export capacity building. The factors making pharmaceutical TNC transfer production facilities to India and China are substantiated and implications of this process are highlighted. It is revealed that due to the production internationalization, countries that had been net importers of pharmaceuticals just several decades ago have joined the group of key suppliers to external markets. Because American and European TNC are leading in the pharmaceutical industry by R&D expenditure, they are the principal holders of advanced technologies in the industry. It follows that manufacturing of medicines and medical products in most part of countries either directly or indirectly depend on innovative products of TNC and their technology transfer via various channels (both licensing and imports of components, active pharmaceutical ingredients in particular). It is shown that with the emergence of new market actors coming from developing countries, traditional approaches to determining comparative advantages of counties in the global trade need to be improved. The cases of countries that are recipients of foreign technologies, on which territories powerful high tech pharmaceutical production facilities with high shares of intermediate consumption and heavy export supplies are located due to TNC investment or local public-private capital, give evidence that the classical RCA indicator allows to measure visible comparative advantages in the trade in goods rather than revealed ones. It is proposed that analyses of advantages at country level should include the indicator of high tech goods supplies, to provide for a more accurate description of the innovation component in advanced industries. A new approach to the assessment of comparative advantages of high tech pharmaceutical manufacturing is proposed and tested, which is based on the principle of specialization and use of the ratio of Comparative Advantage in Value Added Activity (CAVA) in particular. It is revealed that the pharmaceutical industry of Ireland, Jordan, Singapore, India or Columbia, with reliance on foreign investment and technologies, could gain advantages in value added creation and dominate the national economies. It is shown that Ukraine is enhancing the advantages in value added creation in the pharmaceutical industry; is it substantiated that due to low R&D and innovation performance and heavy dependence on imported components, capacity building of this industry and its current advantages result from global tendencies and global market conjunctures rather than from the implementation of the national science & technology priorities. According to the author’s recommendation, the proposed approach to determining comparative advantages in value added creation should be used for the assessment of other high tech industries, apart from the pharmaceutical industry, and that is should be supplemented by statistical tools for analysis of foreign trade in finished and intermediate high tech goods.

scholarly journals HIGH-TECH PHARMACEUTICAL MANUFACTURING IN UKRAINE: CHALLENGES OF EUROPEAN INTEGRATION

2021 ◽  
Vol 118 (5) ◽  
pp. 128-154
Author(s):  
SALIKHOVA Olena ◽  
HONCHARENKO Daria
Keyword(s):  
Pharmaceutical Industry ◽  
European Integration ◽  
Industrial Policy ◽  
Technology Development ◽  
Public Procurement ◽  
High Tech ◽  
Pharmaceutical Sector ◽  
Global Trends ◽  
Medical Products ◽  
Pharmaceutical Industries

Background. The crisis COVID-19 pandemic has highlighted that EU have strategic dependencies, particularly in the most sensitive industrial ecosystems such as for health. Ukraine implements the policy of European economic integration and the development of the pharmaceutical sector must take into account both European considerations and national interests. Analysis of recent researches and publications revealed that the crisis COVID-19 pandemic revealed pharmaceutical industry problems; that require further study for adequate reproduction of the best practices in Ukraine. The aim of the article is to explore the EU experience, to define and justify the necessary policy measures for the development of pharmaceuticals in Ukraine in the context of European integration. Materials and methods. The theoretical and methodological basis for writing the article was the works of domestic and foreign scholars on the outlines of an industrial policy for the pharmaceutical sector. The research was conducted using the methods of theoretical generalization, comparative analysis, analysis and synthesis, which made it possible to justify the need for changes in the management of high-tech pharmaceutical industries development in Ukraine. Results. The regulations in force in Ukraine regulate legal relations in the pharmaceutical sector in the context of EU integration, but do not define the priorities of the sector and the measures to achieve them or the mechanisms for their implementation. Recommendations for Ukraine have been given, the implementation of which will accelerate the development of national high-tech pharmaceutical industries and related sectors of the economy taking into account changes in EU policy. Conclusion. In Ukraine, first of all it is necessary to define the conceptual foundations of the strategy of development of the high-tech industry of pharmaceuticals and medical products, based on the modern challenges and threats, as well as global trends in the technology development; to build an effective decision making vertical on the implementation of industrial policy for the pharmaceutical sector, identify strategic priorities and evaluate the necessary funding, to introduce state support programs, introduce instruments to stimulate domestic demand for Ukrainian pharmaceutical and medical products, make changes to the public procurement system for the development of industry for national security purposes. Recommendations are proposed as to: improving the normative-legal and institutional principles of the development of pharmaceutical industry; strengthening the cooperation of the State, academic, educational, private sector and public; creating stable resources of funding programs and projects on the basis of public-private partnerships.

scholarly journals Ukraine's pharmaceuticals: from dependence to endogenous development

2020 ◽  
Vol 2020 (4) ◽  
pp. 5-33
Author(s):  
Olena Salikhova ◽  
◽  
Daria Honcharenko ◽  
◽  
Keyword(s):  
Pharmaceutical Industry ◽  
Value Added ◽  
Pharmaceutical Products ◽  
New Drugs ◽  
Endogenous Development ◽  
High Tech ◽  
Intermediate Goods ◽  
Competitive Advantages ◽  
Pharmaceutical Manufacturers ◽  
Pharmaceutical Industries

The article substantiates various theoretical and applied principles of developing high-tech pharmaceutical industries (HTPI). It is established that the key problem of developing countries in this area is the dependence on resources and markets of developed countries, while the involvement of advanced foreign technologies can be a catalyst for increasing the technological potential of host countries (subject to the availability of proper knowledge and human capital, changes in the institutional environment, and improved the framework conditions for innovation). In the context of the development of HTPI, the author shows the importance of the network nature of the acquisition by pharmaceutical companies of sustainable competitive advantages based on resources that are difficult to simulate or replace. It is substantiated that networks built with local research institutions, higher education institutions, and research units of other companies, give pharmaceutical manufacturers the opportunity to access complementary assets and become their specific resource, which provides unique competitive advantages. The author reveals various methodological and statistical features of the categorization of industries by the level of technology in the conditions of globalization. It is substantiated that the current low value of the ratio of research and development (R&D) to value-added generated by pharmaceuticals of individual countries is not a sign of the industry’s low technological level, as the current revenues are the result of long-term R&D and harmonization procedures for launching new drugs with lags of 10-15 years. A new tool for the study of international trade in high-tech pharmaceuticals is proposed, whose peculiar feature consists in the categorization of nomenclature items by end use; the List of high-tech medical and pharmaceutical intermediate goods is formulated (in accordance with SITC Rev.4 and UKT FEA); the following indicators are proposed: the coefficient of import dependence of pharmaceutical production, the coefficient of "purified" exports of pharmaceutical products and the coefficient of imports coverage with HTPI output, and the formulas for their calculation are provided. The author's approach is the first to create the opportunity to assess the scale of costs and the dependence of the pharmaceutical industry on imported components that embody advanced technologies and are the industrial supplies for HTPI. It was found that in Ukraine the share of foreign intermediate high-tech goods in the consumption of the industry reaches 82.2%; the industry, working on imported substances, produces mainly products for the domestic market, without earning foreign currency, even to cover the cost of purchasing the necessary ingredients; manufacturers do not rely on synthesized chemical products of domestic production, primarily due to the fact that the products of the chemical industry for the needs of pharmaceuticals in Ukraine are virtually non-existent; and the increase in output depends on foreign technologies and intermediate goods. It is substantiated that Ukraine’s pharmaceutical industry is critically dependent on imported supplies to ensure the smooth operation of enterprises and the healthcare industry. Key endogenous barriers that hinder the development of HTPI have been identified, including problems in the training of specialists and a lack of scientists whose competencies would contribute to solving the problems of endogenous development of the industry; lack of state aid to business entities for research, and technological and innovative activities; lack of own funds to increase expenditures on R&D and implementation of large-scale investment and innovation projects; and lack of cheap loans, due to which Ukrainian pharmaceutical manufacturers find themselves in unequal conditions compared to foreign competitors. Conceptual bases of HTPI development in Ukraine are proposed; justified the expediency of legal changes, definition of strategic priorities and introduction of measures of development of HTPI in Ukraine based on the comprehensive approach, which will cover creation and development of pharmaceutical ingredients for medicines (chemical and biotechnological goods), medical products, fillers, packing materials, machinery and equipment for pharmaceuticals to help reduce the dependence on foreign technologies, and to increase the level of production localization, employment and revenues to the budgets of all levels.

Ukraine's pharmaceuticals: from dependence to endogenous development

2020 ◽  
Vol 2020 (4) ◽  
pp. 7-35
Author(s):  
Olena Salikhova ◽  
◽  
Daria Honcharenko ◽  
◽  
Keyword(s):  
Pharmaceutical Industry ◽  
Value Added ◽  
Pharmaceutical Products ◽  
New Drugs ◽  
Endogenous Development ◽  
High Tech ◽  
Intermediate Goods ◽  
Competitive Advantages ◽  
Pharmaceutical Manufacturers ◽  
Pharmaceutical Industries

The article substantiates various theoretical and applied principles of developing high-tech pharmaceutical industries (HTPI). It is established that the key problem of developing countries in this area is the dependence on resources and markets of developed countries, while the involvement of advanced foreign technologies can be a catalyst for increasing the technological potential of host countries (subject to the availability of proper knowledge and human capital, changes in the institutional environment, and improved the framework conditions for innovation). In the context of the development of HTPI, the author shows the importance of the network nature of the acquisition by pharmaceutical companies of sustainable competitive advantages based on resources that are difficult to simulate or replace. It is substantiated that networks built with local research institutions, higher education institutions, and research units of other companies, give pharmaceutical manufacturers the opportunity to access complementary assets and become their specific resource, which provides unique competitive advantages. The author reveals various methodological and statistical features of the categorization of industries by the level of technology in the conditions of globalization. It is substantiated that the current low value of the ratio of research and development (R&D) to value-added generated by pharmaceuticals of individual countries is not a sign of the industry’s low technological level, as the current revenues are the result of long-term R&D and harmonization procedures for launching new drugs with lags of 10-15 years. A new tool for the study of international trade in high-tech pharmaceuticals is proposed, whose peculiar feature consists in the categorization of nomenclature items by end use; the List of high-tech medical and pharmaceutical intermediate goods is formulated (in accordance with SITC Rev.4 and UKT FEA); the following indicators are proposed: the coefficient of import dependence of pharmaceutical production, the coefficient of "purified" exports of pharmaceutical products and the coefficient of imports coverage with HTPI output, and the formulas for their calculation are provided. The author's approach is the first to create the opportunity to assess the scale of costs and the dependence of the pharmaceutical industry on imported components that embody advanced technologies and are the industrial supplies for HTPI. It was found that in Ukraine the share of foreign intermediate high-tech goods in the consumption of the industry reaches 82.2%; the industry, working on imported substances, produces mainly products for the domestic market, without earning foreign currency, even to cover the cost of purchasing the necessary ingredients; manufacturers do not rely on synthesized chemical products of domestic production, primarily due to the fact that the products of the chemical industry for the needs of pharmaceuticals in Ukraine are virtually non-existent; and the increase in output depends on foreign technologies and intermediate goods. It is substantiated that Ukraine’s pharmaceutical industry is critically dependent on imported supplies to ensure the smooth operation of enterprises and the healthcare industry. Key endogenous barriers that hinder the development of HTPI have been identified, including problems in the training of specialists and a lack of scientists whose competencies would contribute to solving the problems of endogenous development of the industry; lack of state aid to business entities for research, and technological and innovative activities; lack of own funds to increase expenditures on R&D and implementation of large-scale investment and innovation projects; and lack of cheap loans, due to which Ukrainian pharmaceutical manufacturers find themselves in unequal conditions compared to foreign competitors. Conceptual bases of HTPI development in Ukraine are proposed; justified the expediency of legal changes, definition of strategic priorities and introduction of measures of development of HTPI in Ukraine based on the comprehensive approach, which will cover creation and development of pharmaceutical ingredients for medicines (chemical and biotechnological goods), medical products, fillers, packing materials, machinery and equipment for pharmaceuticals to help reduce the dependence on foreign technologies, and to increase the level of production localization, employment and revenues to the budgets of all levels.

scholarly journals Ethical Relation between Physicians and Pharmaceutical Industries in the Perspectives of Bangladesh

2015 ◽  
Vol 6 (1) ◽  
pp. 1-5
Author(s):  
Shahinul Alam ◽  
Nahiduz Saman ◽  
Monsur Hallaj Hallaj ◽  
Jahangir Ul Alam ◽  
Shoaib Momen Majumder
Keyword(s):  
Developing Countries ◽  
Pharmaceutical Industry ◽  
Ethical Guidelines ◽  
Ethical Relation ◽  
Guide Line ◽  
Current Scenario ◽  
Pharmaceutical Industries ◽  
Scientific Meetings ◽  
The Right

Relation between physicians and pharmaceutical industry is required for the benefit of the patient. But it may turn into business and overthrow the patients’ benefit. The relation might be in question at present and in future. Several questions are flowing in Bangladesh. To solve these queries we have explored the situation in developed and developing countries. The physicians and associations of pharmaceutical industries developed several ethical guidelines in those countries. They have addressed the long lasting issues on gift provided to physician, cash back, sample, industry sponsored scientific meetings, research and hospitality. There are huge restrictions to ensure the right of the patient’s e.g. limitation of inexpensive gift by the pharmaceuticals, avoiding expensive medicine instead of equally effective low priced medicine. We are lacking behind to protect the patient right properly: regulation, adherence to existing guide line, lack of guidance from statutory bodies. The current scenario is far behind the right of patient. In Bangladesh it is not yet addressed either by professionals or by pharmaceutical associations. It is the immediate need to construct a guide line for physicians and pharmaceutical industry of Bangladesh.Bangladesh Journal of Bioethics 2015 Vol.6 (1):1-5

scholarly journals Intellectual Capital and Financial Performance: Comparison With Financial and Pharmaceutical Industries in Vietnam

2021 ◽  
Vol 12 ◽  
Author(s):  
Xiao-Bing Zhang ◽  
Tran Phuong Duc ◽  
Eugene Burgos Mutuc ◽  
Fu-Sheng Tsai
Keyword(s):  
Pharmaceutical Industry ◽  
Financial Performance ◽  
Intellectual Capital ◽  
Value Added ◽  
Financial Industry ◽  
Pharmaceutical Firms ◽  
Financial Firms ◽  
Positive Effects ◽  
Capital Efficiency ◽  
Pharmaceutical Industries

This study investigates the impacts of intellectual capital through Value-Added Intellectual Capital (VAIC) and its components: human capital efficiency (HCE) and structural capital efficiency (SCE) on financial performance in terms of return on assets (ROA) and return on equity (ROE). In addition, this study compares the effects between firms from financial and pharmaceutical industries. A total of 149 Vietnamese firms comprising of 108 financial firms and 41 pharmaceutical firms were examined. Based on the findings, VAIC and HCE show beneficial impacts on both financial performance measures, ROA, and ROE. However, SCE shows adverse and beneficial implications on ROA and ROE, respectively. In terms of industry comparison, VAIC has positive effects on ROA and ROE among the firms from financial industry, whereas it has no effect in the firms from pharmaceutical industry. The effect of HCE on ROA is stronger in the firms from financial industry than firms from pharmaceutical industry while the effect of HCE on ROE is stronger in the firms from pharmaceutical industry than firms from financial industry. The effect of SCE on ROA is stronger in the pharmaceutical firms than financial firms while the effect of SCE on ROE is stronger in the financial firms than pharmaceutical firms. Lastly, the implications of the importance of knowledge-based resources on value creation were elaborated.

scholarly journals Investment Potential of the Manufacturing Industry

2019 ◽  
Vol 23 (4) ◽  
pp. 24-42
Author(s):  
N. M. Abdikeev ◽  
Yu. S. Bogachev ◽  
S. R. Bekulova
Keyword(s):  
Purchasing Power Parity ◽  
Manufacturing Industry ◽  
Value Added ◽  
Global Market ◽  
High Tech ◽  
Power Parity ◽  
Investment Activity ◽  
Fixed Assets ◽  
High Level ◽  
Advanced Development

The article considers investment in fixed assets of the manufacturing industry as one of the main factors of its development. The manufacturing industry is shown to be the growth driver of national economy for developed and developing countries. The analysis of exports and imports of the first 15 countries in the ranking in terms of gross domestic product calculated at purchasing power parity (GDP at PPP) shows the leading role of the manufacturing industry in the global economy. At the same time, competitiveness in the global market is determined by high-tech products. Therefore, for the sustainable development of the Russian economy, it is necessary to create investment conditions for the advanced development of high-tech segments of the manufacturing industry. However, the current structure of investments in fixed assets contributes to the development of such services sector segments as “Transportation and storage”, “Real estate operations”. In the structure of investments in fixed assets, the largest share belongs to investments in buildings and structures, and intellectual property items account for no more than 10%. It is shown that the lack of investment resources is the main reason for the reduction (by 1.5 times) of the contribution to the value added of the manufacturing industry in Russia, production of machinery and equipment. This leads to an increase in dependence on imports, a fall in the share of products from high-tech sectors. To analyze the development potential of manufacturing industries, the authors introduced an indicator of investment intensity per 100 rubles of shipped industrial products. It was determined that enterprises with a joint Russian and foreign form of ownership lead in terms of investment intensity. At the same time, private enterprises, leading in terms of output, demonstrate weak investment activity. The low investment attractiveness of high-tech manufacturing sectors is shown. The regional structure of the manufacturing industry was analyzed. There is a high level of regional concentration of the manufacturing industry in Russia. At the same time, the authors show its relatively weak significance in the structure of the gross regional product in the majority of the constituent entities of the Russian Federation. It has been proposed to develop a program at the federal level for the advanced development of production in the high-tech and medium-technology high-level sectors for 10–15 years. It is proposed to create a supradepartmental executive authority to manage this program.

scholarly journals The Restructuring of the European Pharmaceutical Industry between 2000 and 2018

2021 ◽  
Vol 24 (2) ◽  
pp. 103-118
Author(s):  
Benedek Nagy
Keyword(s):  
Pharmaceutical Industry ◽  
Labor Productivity ◽  
Employment Growth ◽  
Temporal Dynamics ◽  
Value Added ◽  
High Tech ◽  
Productivity Change ◽  
The European Union ◽  
A Value ◽  
Knowledge Intensive

To meet the requirements of global competition, the European Union (EU) places particular emphasis on the development of knowledge‑intensive, innovative industries. The pharmaceutical industry, as a high‑tech manufacturing subsection, has a long tradition in Europe. However, the distribution of pharmaceutical industry employment and value added is not even within the Union, and its temporal dynamics is also different. In the present paper, I examine the change of the structure of the pharmaceutical industry within the Union using country groups. I compare the development of pharmaceutical industry employment in the period between 2000 and 2018 in three country groups. I use a simple decomposition method to separate the effects of sector growth and labor productivity change on the change of pharmaceutical employment to find out how similarly this industry evolved in the different country groups. The analysis shows that while in the 12 original, i.e., pre–2004, member states (Core EU), employment slightly increased alongside a considerable increase in value added, the nine post‑socialist countries (PS9) achieved slightly greater value added expansion combined with substantial employment growth. Meanwhile, the four Visegrád countries (V4) achieved a value added growth similar to the PS9, but an even greater employment growth. This indicates that the part of the pharmaceutical industry operating with higher labor productivity is concentrating in the Core EU countries, while in the less developed post‑socialist countries, the part of the pharmaceutical industry with lower labor productivity is developing.

scholarly journals THE IMPACT OF PHARMACEUTICAL INDUSTRY ON HUMAN RIGHTS

2019 ◽  
Vol 1 (2) ◽  
pp. 90-98
Author(s):  
Shagufta Kanwal ◽  
Keyword(s):  
Developing Countries ◽  
Human Rights ◽  
Pharmaceutical Industry ◽  
Health Sector ◽  
Essential Medicine ◽  
Vital Role ◽  
Focal Points ◽  
Pharmaceutical Industries ◽  
The Impact ◽  
Doha Declaration

Pharmaceutical industry and human rights are opposing each other and having conflict at each point relating to access to essential medicine in developing countries. At this point of research some focal points of discord and contestation from the both sectors are tried to explain. The views from pharmaceutical industry can be explained in the form of official’s submission during negotiation surrounding the Doha Declaration and the decision that were taken after the Doha Declaration. The industry’s views can also be supported by the others who paid their vital role to support the pharmaceutical industries by their writings and morally as well. The main argument given from the pharmaceutical industry was stating that patent is not creating any kind of obstacle creating any obstacle to access essential medicine in developing countries. Actually, they try to state that there were health care issues to the citizens of the developing nations before the IP protection is given to the pharmaceutical industries. So, it can be said that the progress in the field of pharmaceutical industry in the developing countries have nothing to do with IP system and the innovation in the pharmacy cannot be achieved by undermining the IP. Most of the problems in the health sector in not related to the patent system in developing countries.

scholarly journals Czech Agrarian Trade Comparative Advantages Distribution in Relation to Developed and Developing Countries

2018 ◽  
Vol 66 (4) ◽  
pp. 1001-1015
Author(s):  
Luboš Smutka ◽  
Mansoor Maitah ◽  
Miroslav Svatoš
Keyword(s):  
Developing Countries ◽  
Value Added ◽  
Developed Countries ◽  
European Countries ◽  
The Czech Republic ◽  
Current State ◽  
Comparative Advantages ◽  
Independent States ◽  
Cis Countries ◽  
Level Of Processing

This article deals with the issues of the current state of commodity structure and distribution of comparative advantages of the Czech agrarian trade in comparison to developed, developing and also in comparison with Commonwealth of Independent States and in relation to other European countries (i.e. non‑EU and CIS countries). The goal of this paper is to identify how the comparative advantages of Czech Agrarian exports are distributed. In addition to this, the article also attempts to identify the main differences in the characteristics of agrarian trade between developed countries on one hand and developing countries on the other hand. The results suggest that the agrarian trade performs very differently in relation to individual groups of countries. The Czech agrarian trade has been progressively developing, specifically in relation to developer countries of the world. In this regard, it is necessary to mention the constantly improving characteristics of the Czech agrarian trade in relation to EU28 countries (however, the comparative advantages are based on low prices and high volumes of exported goods. In relation to developing countries, Czech trade is more or less stagnate (however, the trade is based on items with a higher level of processing and in comparison with developed countries is also based on items with significantly higher unit prices). A rather specific development was also recorded in relation to CIS countries and “other European countries”. The Czech Republic has a highly competitive commodity structure in relation to these countries, which is primarily based on the export of goods with higher value added and relatively high per kilogram prices.

Assessment of Innovation Cooperation of Ukraine and Scandinavian Countries in Terms of the New Industrial Revolution

2021 ◽  
Vol 39 (6) ◽  
Author(s):  
Igor Matyushenko ◽  
Serhii Hlibko ◽  
Olha Prokopenko ◽  
Valeriy Ryeznikov ◽  
Olena Khanova
Keyword(s):  
Information Technologies ◽  
Industrial Revolution ◽  
Technical Assistance ◽  
Value Added ◽  
High Tech ◽  
It Services ◽  
Joint Research ◽  
Pharmaceutical Industries ◽  
Innovation Cooperation ◽  
Further Development

Research background: The article explicates the approach of assessing the factors of innovation cooperation of Ukraine and Scandinavian countries in the face of the new industrial revolution.Purpose of the article: The paper aims to assess the current state of cooperation between Ukraine and Scandinavian countries and define the most critical factors for its further development in the new industrial revolution.Methods: The article presents the research scheme of cooperation between Ukraine and Scandinavian countries based on qualitative and economic-statistical analysis, comparative advantages analysis, correlation-regression analysis.Findings & value added: As a result of the research, it was revealed that the main directions of innovation cooperation between Ukraine and Scandinavian countries are investment projects, technical assistance initiatives, experience and technologies transfer. The cooperation is mainly implemented in energy, information technologies, education, science and high-tech trade. Based on the eco-nomic-diplomatic component analysis, a forecast and the dynamics of trade turnover of Ukraine and Scandinavian countries are presented, including the critical for Ukrainian economy time-frame of 2013-2014. It has been revealed that economic diplomacy plays a vital role in establishing and expanding trade relations. To deepen the innovation cooperation between Ukraine and Scandinavian countries, the authors see the need for: (1) expanding spheres of cooperation through joint projects in infrastructure, energy, aerospace and pharmaceutical industries, and the production of components for automobiles; (2) conducting joint research on biotechnology and nanotechnology; (3) signing of agreements in order to establish partnerships between the universities of Scandinavian countries and Ukraine; (4) the introduction of state support for the aerospace industry, the creation of scientific and production clusters in this field; (5) further development and diversification of the Ukrainian IT services market and interaction with Scandinavian countries in this field.

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