Russia Discusses Cooperation with Nordic Countries

On 14 December 2021, Alexei Chekunkov, Minister for the Far East and Arctic, met with Nordic ambassadors to Moscow. They discussed the prospects of bi- and multilateral cooperation in the High North with a focus on economic, social and technological cooperation. Below is a recap of key topics discussed:

• Russia is interested in attracting investors from the Nordic countries to its Arctic and Far Eastern projects. With launching a series of acts to facilitate doing business in the High North in 2020, the preconditions were set for cultivating a favorable environment fostering a steady economic growth. The ambassadors were given an outlook of the benefits introduced under the newly established preferential regimes -- both in the Russian Arctic as a whole (which therefore may be regarded as the world’s largest special economic zone) and in the so-called Advanced Development Areas.

• Moscow is committed to advancing meaningful cooperation between Russia and the Nordic countries in the green energy sector. For instance, Russia is interested in acquiring from the Scandinavians their technologies, best practices and know-how in respect of renewables. A platform for such cooperation will be offered, inter alia, by the Advanced Expertise Center for Green Energy to be established as part of a joint project implemented by the Government of St. Petersburg and several research institutions.

• With Russia controlling up to 20 per cent of the world’s forests (815 million hectares) and a half of all existing conifers, Russian entrepreneurs and their Nordic counterparts are welcome to launch new joint businesses in the Russian European Arctic to operate high-tech eco-friendly sawmills, develop wooden house construction etc.

• Global climate change is of special concern for all countries whose territories lie above the Arctic Circle, as it appears to be affecting them the most. To ensure a balanced development across the region, joint efforts should be made by all Arctic countries to come up with new technologies capable of helping prevent irreversible changes, adapt urban infrastructure to emerging climate realities and improve its resilience.

It should be added that the dialog in the Barents Region is an important aspect of cooperation between Russia and its Scandinavian neighbors. PORA pays close attention to the regional affairs, with one of its top intellectual products being the Polar Index, a rating designed in collaboration with the Moscow State University with a view to evaluating major companies and the administrative provinces located in the Barents Region through the prism of sustainable development. This December, the Polar Index for 2021 saw the light of day.

Arctic Today is a column by PORA CEO Alexander Stotskiy analyzing major international, national and regional events and trends in the Arctic.