_ EDB. Moscow, 12 August 2019.
Cluster development is on the development agenda of all the EDB member countries. This finding is presented in the report titled Cluster Development in the EDB Member Countries published by the Centre for Integration Studies at the EDB’s Directorate for Research. The paper considers the key terms of cluster development, explores the importance of clusters to the competitiveness of the national and regional economies, classifies cluster strategies pursued by the EAEU member countries, and analyses their cluster potential.
None of the EDB member countries is in the top 50 economies in terms of cluster development (Armenia ranks 72nd, Kazakhstan 120th, the Kyrgyz Republic 135th, Russia 95th, and Tajikistan 100th), which is mainly due to economic factors. The limited financing of SMEs and underdeveloped venture capital markets restrain the growth and development of innovative companies. Moreover, high barriers to new companies’ entry in most of the countries also affect competition in the national markets, which impacts the productiveness and innovative capacity of the national sectors.
Most cluster initiatives in the EDB member countries emerge as a result of active cooperation with foreign companies and international organisations, which suggests that an open strategy is adopted to crate and develop clusters.
In the meantime, cluster development is gaining growing importance to the EDB member states. The geopolitical peculiarities of their development imply their vast and often underdeveloped territories, the lack of developed transport corridors, and the fact that most of the countries are landlocked. By implementing a well-planned, thorough approach, clusters may become an instrument to promote equitable economic development in the countries and an increase in their competitiveness through the creation of new growth centres.