Financial Methods To Promote International Industrial Cooperation

Abstract

In the current geopolitical and geo-economic conditions, the search for new directions and effective methods and tools for financing international industrial cooperation is becoming increasingly important. Hence, the study of the directions of international industrial cooperation (including cooperation in high-tech industries) in the context of Russia's move toward the East, as well as the tools and techniques for its financing and stimulation, is extremely relevant. The article considers approaches to analyzing methods of stimulating international industrial cooperation. An analysis of financial support for cooperation between Russian enterprises and enterprises in Turkey, China, India, and other Asian countries made it possible to identify the most effective instruments for financing and promoting international cooperation and to classify them into two classes of financial instruments. They are identified as direct and indirect incentive methods. This classification gives an idea of the effective sectoral and national directions for financing international cooperation. The economic importance of each group of financing methods for stimulating industrial cooperation is revealed. The first group is the use of financial instruments that reduce the cost of establishing international relationships. The second group is the use of tools that provide enterprises with special conditions, thereby reducing the financial burden on the international project being implemented. At the same time, in order to achieve an integrated approach to promoting international industrial cooperation, it is appropriate to establish the interstate institutions that will contribute to more complete financial support for international cooperation.