Innovations as a fundamental concept for economic development are of exceptional significance for any modern economy, including the Macedonian, said Minister of Education and Science Pance Kralev at the opening of Forum for Innovations - Development of Innovation Strategy 2012-2020, held in Skopje on Wednesday.

The forum, organized by the Ministry of Economy and the Organization for Economic Cooperation and Development (OECD), aims at contributing in the process of developing the Innovation Strategy of the Republic of Macedonia 2012-2020.

"We hope that the strategy will create a platform for a coherent approach towards stimulation and motivation of innovations as the basic generator of every economy, including ours", said Minister Kralev at the forum interval.

He added the Ministry of Education and Science has worked intensively on finding ways to stimulate innovations, primarily in scientific-research institutes and universities.

"Our activities are focused on the universities and the academic community, but also the private sector. I believe they will merge through the innovation strategy", said Kralev.

With regards to the European Commission's recommendation for allocation of three percent of the GDP for research and development of innovations and science, the Minister said this is the European average in line with fiscal possibilities.

"We have still not reached this level, but we intend to gradually create a framework and annually increase the percentage allocated for science and innovations. I believe we will reach the European average within a reasonable period", underlined Kralev.

Innovations as a fundamental concept for economic development are of exceptional significance for any modern economy, including the Macedonian, said Minister of Education and Science Pance Kralev at the opening of Forum for Innovations - Development of Innovation Strategy 2012-2020, held in Skopje on Wednesday.

The forum, organized by the Ministry of Economy and the Organization for Economic Cooperation and Development (OECD), aims at contributing in the process of developing the Innovation Strategy of the Republic of Macedonia 2012-2020.

"We hope that the strategy will create a platform for a coherent approach towards stimulation and motivation of innovations as the basic generator of every economy, including ours", said Minister Kralev at the forum interval.

He added the Ministry of Education and Science has worked intensively on finding ways to stimulate innovations, primarily in scientific-research institutes and universities.

"Our activities are focused on the universities and the academic community, but also the private sector. I believe they will merge through the innovation strategy", said Kralev.

With regards to the European Commission's recommendation for allocation of three percent of the GDP for research and development of innovations and science, the Minister said this is the European average in line with fiscal possibilities.

"We have still not reached this level, but we intend to gradually create a framework and annually increase the percentage allocated for science and innovations. I believe we will reach the European average within a reasonable period", underlined Kralev.