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The event was the first in the framework of Russia’s chairmanship in this organization.

The St. Petersburg International Economic Forum (SPIEF) hosted a meeting of the Arctic Economic Council. This event was the first in the framework of Russia’s chairmanship in this organization.

As Deputy Prime Minister and Plenipotentiary of the President in the Far Eastern Federal District Yuri Trutnev noted in a video message to the meeting participants, the Arctic, being a territory of common responsibility, requires concerted actions, an open and constructive dialogue.

“The Government of the Russian Federation will make every effort to ensure that during Russia’s chairmanship of the Arctic Economic Council, we together take a step forward in mutual understanding, economic cooperation, and maintaining the stability of the Arctic region,” said Yuri Trutnev.

According to the Minister of the Russian Federation for the Development of the Far East and the Arctic Alexei Chekunkov, it is extremely important to set the right pace and translate the rhetoric and spirit of international cooperation and international cooperation in the development of the Arctic into the most constructive channel.

“As a business superstructure over the interstate mechanism, speaking the language of business, reaching faster and more effective decisions, the Arctic Economic Council can become an icebreaker that will show both politicians and diplomats, the general public, ways of constructive interaction in the Arctic,” the head of the Ministry for the Development of the Russian Far East noted.

Russia has formed a framework for state policy in the Arctic for a decade and a half to come. The world’s largest preferential economic zone with a total area of ​​5 million sq. km. More than 100 companies are already implementing projects with a total volume of over 200 billion rubles under preferential treatment.

The Ministry for the Development of the Russian Far East is creating a digital model of the economy of the North, which should also allow Russia to manage more efficiently in the Arctic, to demonstrate to the world community all interconnections using the most modern technologies.

The participants of the Arctic Economic Council expressed the general opinion that business development in the Arctic should be based on the principles of a balance of environmental, climatic and social components along with business activity.

The Arctic Economic Council is an independent international association of companies implementing major projects in the Arctic, aimed at developing partnerships and sharing best practices. The council includes 38 companies from Russia, Sweden, USA, Canada, Finland, Iceland, Denmark and Norway. Russia is represented by the companies Novatek, Sovcomflot, Rosatom. These are companies that actively participate in the economic development of the Arctic, implement projects of global importance that affect the world energy market, and promote new technologies for the peaceful atom. The partners of the Arctic Economic Council are Megafon and Gazprom Neft.

In addition, representatives of the indigenous small-numbered peoples of the North participate in the work of the council. Since May 2021, Russia has chaired the Arctic Council and the Arctic Economic Council. The secretariat of the national part of the Arctic Economic Council was formed on the basis of the Corporation for the Development of the Far East and the Arctic.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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