What is Arctic Economic Council (AEC)

The Arctic gains an increasing geopolitical importance in the globalized world. The region provides a lot of opportunities especially due to the global warming and intensive development of digital technology but at the same time, it poses extreme challenges. The chapter starts with a literature review on interactions, relationships, networks and their implications on trans-Arctic collaborations. The first section begins by exploring how each Arctic state deals with the opportunities and challenges of the region. The second section describes the evolution of trans-Arctic relations. In the third section, market connections between the Arctic states, the importance of establishing a predictable regulatory framework, knowledge and data exchange, broadband penetration, and use of traditional indigenous knowledge to stimulate sustainable long-term trans-Arctic interactions are analyzed. The chapter ends with conclusions and recommendations aimed at the future development of trans-Arctic interactions with a focus on global intervention policies and strategies in the region.