Ukrainian Prime Minister Mykola Azarov on Wednesday urged efforts to promote innovation in the country.

"Our neighbors are actively innovating. There is a strategy of innovative development until 2020 in Europe. Therefore, Ukraine must take its strategy of innovative development for the next 10 years," he said while opening a government meeting.

Azarov said Ukraine occupies the 60th place among 125 economies in the global innovation ranking which he believes is quite low. Therefore, the prime minister instructed the cabinet to prepare a program of innovation development.

There are a lot of talented inventors in Ukraine. According to official statistics, the State Department of Intellectual Property has issued more than 90,000 patents over the last 15 years, but only more than 20 inventors were able to realize their projects. Short of funding is a main obstacle.

(Source: Xinhua)