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How To Develop Markets for Key Arctic Resources

Melting Sea Ice Generating An Emerging Arctic Economy

May 9, 2012 -- Anchorage, Alaska—The Arctic Ambitions conference, hosted by the Institute of the North and World Trade Center Alaska, determined that both competition and cooperation are hallmarks of the development process in the Arctic. Businesses, along with governments and other stakeholders, will have important roles to play in developing markets for key Arctic resources.

“In just one day we were really able to examine some of the business and international trade opportunities that arise from commercial development in the Arctic,” said World Trade Center Alaska Executive Director Greg Wolf. “The conference was both informative and illuminating with critical opportunities for robust dialogue between participants.”

Presentations at the Arctic Ambitions conference in Anchorage, Alaska focused on the development of—and markets for—key Arctic resources. Presentations can be found at https://institutenorth.org/programs/arctic-advocacy-infrastructure/arctic-ambitions/Arctic_Ambitions_presentations/. The array of international speakers drew connections between international trade, Arctic policy issues and resource development, addressing the two-way nature of exports and imports. Participants addressed not only the question of what Arctic nations can develop and export but also dealt with the question of who has a market for the resources once they are developed.

Discussion also touched on international trade and business opportunities that flow from development of resources in the Arctic—new resource development, infrastructure and shipping service along the Northern Sea Route means expansion of commercial activities and partnerships. Businesses from around the world with applicable experience, technologies and interests will have a wide variety of avenues to pursue as development occurs in the near and long term.

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Institute of the North
The Institute of the North’s mission is to inform public policy and cultivate an engaged citizenry consistent with our focus on the North and our belief that commonly-owned resources should be developed and managed for individual and community prosperity. The Institute of the North is both forward-thinking and global in its approach to the challenges and opportunities stemming from Alaska’s strategic location. The Institute of the North develops initiatives that cross sectors and the circumpolar North to empower northern peoples by increasing knowledge of northern issues, at a local, national and global level and strengthening Alaskans’ voices in northern decision-making.

World Trade Center Alaska
World Trade Center Alaska is a private non-profit membership organization providing international trade and business services to members and community partners across the state. The mission of WTCAK is to assist Alaskans to successfully compete for trade and investment in the global marketplace. The group is a member of the global network of nearly 300 trade centers located in 78 countries.

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