Russia and the EU have a potential for the joint development of transport projects in the Arctic

03.07.2019

Russia and the EU have a potential for the joint development of transport projects in the Arctic

Russia and EU countries have a potential for the development of scientific interaction and cooperation in terms of implementation transport projects in the Arctic zone. Such view was expressed by the Vice-Chairman of the Arctic Economic Council Tero Vauraste.

«In the conditions of changing the global political situation and the plans of the EU and Russian authorities to update the Arctic policy, there are wide opportunities for cooperation between the parties. In certain areas mutual cooperation can be strengthened, in particular, through the implementation of transport projects in the Arctic and the attraction of EU funding for these purposes.  Joint climate research is one more important direction of cooperation», - Vauraste said.

According to his words, global investment to the development of the Arctic projects in the world is estimated at $ 1 trillion dollars. «About half of them are energy projects. Secondly, these are infrastructure projects in aviation, road, rail and port traffic. Tourism and fishing also have great potential», - expert noted.

According to him, about 25% of the investment potential falls on the Russian Arctic. Another 25%  - Scandinavian countries. And 30% to 40% potential - North America.


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