Cluster Policy Of Nordic Region In Formation And Effective Functioning Of Competitive Clusters

The article is devoted to the issues of clustering, which is process aimed at improving the competitive power of economies in EU countries. The experience of Nordic countries in developing of clusters group is considered. Due to rising global competition, clusters became the essential tool for upgrading economic competitiveness internationally. The article describes the world-class Nordic model based on cluster development, covers the reasons why the model has worked successfully in the past and stresses on the challenges it is being subjected to in the future. Successful experience of Nordic countries approved that clusters are essential tool for economic prosperity and competitiveness. New model of cluster development should be based on world-class clusters that must be innovative with strong international linkages based on cooperation and partnership. During the crises all over the world, clusters can play an instrumental role as a preferred internationalization competitive vehicle as well as provide an effective platform for networking, R&D development, foster economic development, innovation sharing and achievement of common goal - to be competitive at global scale.