INTERNATIONAL COOPERATION IN THE RUSSIAN ARCTIC

Rekovskaya A.D.

 student of the Higher School of Social Sciences, Humanities and International Communication. [email protected]

Scientific supervisor: Freiberg M.V., teacher of the English Language Department

In just a few years, the Arctic region has gained immense popularity around the world and has been recognized as the fastest growing market of opportunities. In search of a point of support the inhabitants of the planet turned their gaze to the north.

Today, the Arctic is the territory of the dialog and cooperation of countries in many spheres of human activity. The article covers some examples of economic cooperation.

The main body of business cooperation is the Arctic Economic Council. Its goal is to contribute to economic and social development of the region, as well as to protect the environment in the Arctic region. It is an institution independent of the Arctic Council, which determines its composition and activities. The nuclear power plant also has to inform the members of the Arctic Council about the position of the business community on certain issues, work in close cooperation with small business and resource corporations [5].

The AEC is preparing a base for strengthening the importance of the Arctic business community in the process of responsible and sustainable economic development of countries. The goal of the AEC is to become a new independent business forum to promote business in the Arctic, promote responsible economic development, and provide a pan-Arctic link with the activities of the Arctic Council. The nuclear power plant also seeks to establish strong trade relations and attract investments to the Arctic through holding events involving financial experts and potential investors.

The most important strategic mechanism for stimulating both short-term and long-term investments in the Arctic region is working with partners who are ready to share results along with responsibilities. The importance of the regional and local component is often underestimated - that is why it is in the center of attention of the nuclear power plant.

Priority directions of the Economic Council involve consolidation of the Arctic business community for the purpose of sustainable development while taking into account the interests of indigenous peoples in business development; support of small and medium-sized businesses in the Arctic; exchange of experience and best practices in the field of economic development of the Arctic; development of strategies and assessment of long-term economic prospects for economic activity in the Arctic.

Other ways of cooperation are:

• Creation of an international network of northern chambers of commerce and business associations.

• International cooperation of small business at the border level.

• International cooperation of small business by means of participation in conferences and exhibitions.

According to A.N. Pilyasov, Russian business in the future will be able to open a new area of international cooperation in the Arctic cities with the help of projects to create municipal industrial zones. [1, p.88]

Significant potential is also in the cooperation that takes place within the sister cities. Business projects have significant opportunities for expansion, as they are just beginning to evolve.

Pilyasov also believes that foreign participation in the creation of innovative infrastructure facilities in the Russian Arctic with the aim of gradual growing of intellectual industrial services for resource industries in the Arctic should be encouraged. [1, c.91]

Interest in the Arctic projects is very strong, including that of foreign investors, Novak noted. “Both Chinese investors and investors from other countries, present at the forum, show great interest in participating in projects. This is the exchange of technology, and the creation of an appropriate infrastructure. At the same time, we are discussing with our partners the participation of Russian companies in the projects of the countries that are represented here: China, Vietnam, Japan, South Korea,” the minister added. [3]

To promote development and attract investment in the constituent entities of the Russian Federation, such regional development institutions as agencies and development corporations have been set up. These organizations provide assistance to regional development, implementation of the strategy for the development of the region, the formation of an investment-attractive image of the territory.

In addition, the most important issue is the joint activities of regional authorities with development agencies and corporations. Coordination of activities combined with coordinated interaction of agencies and development corporations should contribute to the development of the Arctic macroregion. [4]

Thus, a very relevant topic of today’s interaction between business and government in the Arctic regions of different countries comes down to the issues of subsidies and various benefits for the Arctic entrepreneurship.

State mechanisms should promote international cooperation and stimulate economic activity in the Arctic.

REFERENCES

1. Pilyasov, A. N., Kotov, A. V. Some Aspects of International Economic Cooperation in the Arctic // Bulletin of St. Petersburg State University. 2016. Issue 2. p. 81-96

2. Arctic Economic Council: Establishing Ties with the Business Community: [Electronic resource]. - Access mode: http://www.uarctic.org/shared-voices/shared-voices-magazine-2016-special-issue/arkticheskii-ekonomicheskii-sovet-nalazhivaya-svyazi-s-biznes-soobshestvom/

3. Investments in the Arctic in the Next 20 Years Estimated at $400-600 Billion: [Electronic resource]. - Access mode: https://www.vedomosti.ru/newsline/top/business/news/2017/03/29/683242-investitsii

4. Program of the International Arctic Forum: [Electronic resource]. - Access mode: http://forumarctica.ru/programme/

5. The Arctic Economic Council Created: [Electronic resource]. - Access mode: www.vz.ru/news/2014/9/3/703676.html