Finland Times

 

 

The Arctic Economic Council (AEC), a newly established forum of eight Arctic states and six organisations representing Arctic indigenous peoples, is scheduled to begin its first-ever three-day meeting on September 1 in Iqaluit of Canada, said an official press release.

 

The AEC is expected to be tasked with fostering sustainable development, including economic growth, environmental protection and social development, in the Arctic. In the future, the main focus of its work will be on enhancement of economic operating conditions of indigenous peoples and SMEs, reduction of obstacles to trade, support for sustainable economic operations, and raising issues that the AEC itself considers topical.

 

Although the AEC is established with the help of the Arctic Council, the plan is that it would be an independent body, not attached to the Arctic Council. The intention is that the representatives of the Arctic Council member states’ governments and trade and industry representatives of the AEC would meet at regular intervals to discuss economic development of the Arctic.

 

The representative of the Finnish trade and industry in the AEC are Arctia Shipping CEO and President Tero Vauraste, Lapland Safaris Marketing Director Rauno Posio, and Agnico Eagle Finland Managing Director Ingmar E Haga.

 

Finland was offered the chair the AEC. Finland’s goal is to have the AEC’s operations firmly established and its role in relation to the Arctic Council and other agencies and organisations defined. Finland’s strengths include competencies related to Arctic business activities and environmental protection, and the forthcoming Finnish chairmanship of the Arctic Council in 2017-2019.

 

The Arctic Council is the most important international forum for addressing Arctic issues. The actual member states of the Council are the Nordic countries, Canada, Russia, and the United States, and six organisations representing indigenous peoples of the Arctic serve as permanent participants. Twelve states from Europe and Asia, and the European Union act as observers.