On October 18, 2018 Arctic Business Summit will take place in Reykjavik back-to-back with Arctic Circle Assembly 2018. The Norwegian Shipowners’ Association will join forces with the Arctic Economic Council (AEC) to organize the 2018 Arctic Business Summit.


Representing the business community active in the Arctic, the AEC’s purpose is to facilitate Arctic b2b activities and responsible economic development in the Arctic. The AEC has identified freedom of trade, regulations and standards, need for investments, and public image as highly relevant topics for the development of the region.


The 2018 Summit will also elaborate which topics should be prioritized going forward. We will extract knowledge, examine the drivers for commercial Arctic activities, and offer added value by improving insights, connecting key business stakeholders and initiating activities relevant to the development of the Arctic.



October 18th, 13:30 – 16:30 (registration opens at 12:30)



SA Confederation of Icelandic Enterprise (http://www.sa.is/um-sa/hus-atvinnulifsins)

Address: Borgartúni 35, Reykjavik, Iceland



Mr. Arne O. Holm, Editor in Chief, High North News



13:30   Welcome

             Mr. Arne O. Holm, Editor in Chief, High North News


13:35   Global Outlook on Economy

             Ms. Ásdís Kristjánsdóttir, Economist, Confederation of Icelandic Enterprise


13:50   Protectionism as a Threat to Sustainable Business Operations

             Mr. Tero Vauraste, Chair, AEC; President & CEO, Arctia Ltd.


14:05   Plenary discussion  


  • Freedom of trade in the Arctic context: Protectionism and the effects it has on Arctic trade and economic development?
  • What role does the Arctic play in the global context?
  • How can we ensure responsible and long-term development of both businesses and local communities in the Arctic?
  • How can we improve the connection between Arctic value chains and the global ones?
  • The Arctic has an excellent track record in resource management. How can we ensure continued profitable, responsible and sustainable development of the Arctic?
  • Are new growth models necessary for the Arctic?
  • What are the needs driving Arctic development?


14:35   Health break


14:45   Group workshop 

            Open Questions:

  • How will the latest developments affect your business and in particular the way you conduct business in the Arctic?
  • What are the necessary tools to navigate in this new climate?
  • Who are the key players that must be involved to ensure actions, commitments, and collaborations?


15:30   Setting the course: Iceland Preparing to Lead Arctic Collaboration

             Mr. Bjarni Benediktsson, Minister of Finance and Economic Affairs of Iceland


15:40   Aiming at Arctic – Perspective from “lower 48”

             Hon. Paul LePage, Governor of the State of Maine, United States of America


16:00   Dialogue with business representatives   


16:20   Concluding remarks
             Mr. Heidar Gudjonsson, AEC Vice Chair, Iceland.



16:30   Adjourn


The event is by invitation only.


Here you can find the reports of the previous Arctic Business Council Summits.

2015 Arctic Business Council Summit Report
2017 Arctic Business Council Summit Report


If you are interested in joining other C-level executives, business developers, top leaders and decision makers in shaping the global Arctic business agenda, please contact info@arcticeconomiccouncil.com