Arctic Economic Council Vice Chair and Sovcomflot’s Senior Executive Vice-President Evgeniy Ambrosov spoke at the Russian International Affairs Council’s Conference held on the occasion of the 20th anniversary of the Arctic Council. The conference was held in Moscow on 12-13 October 2016.  The objective of the event was to “determine the outlines of the institutional development of the Arctic Council, the prospects for legal regulation of activities in the Arctic, as well as the potential of economic projects in the region and of cooperation with non-regional players”.

The conference titled “International Cooperation in the Arctic: New Challenges and Vectors of Development” brought together heads of ministries and agencies, diplomats, representatives of business, and leading experts of the Arctic Council member states.

Mr. Ambrosov attended the plenary session which focused on the role of the Arctic Council in ensuring peace, cooperation, sustainable development and implementation of the highest environmental safety standards in the Arctic. Here he spoke about how the Arctic Council established the Arctic Economic Council as a response to viewing the business community’s growing interest in the Arctic as possibly creating opportunities for «more economically advantageous living conditions».

He further highlighted the five overarching themes of the Arctic Economic Council:

  • Establishing strong market connections between Arctic states
  • Promoting stable and predictable regulatory frameworks
  • Encouraging public-private partnerships for infrastructure investments
  • Facilitating knowledge and data exchange between industry and academia
  • Traditional indigenous knowledge, stewardship and focus on small businesses

In closing, Mr. Ambrosov emphasized that the Arctic Economic Council with its 42 representatives represents the diverse faces of the Arctic, both larger and small and medium-sized businesses. The AEC provides an opportunity for all businesses and organizations to engage in our work no matter their size or origin.

“We welcome you all to make the Arctic a favorable place to do business.”