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Chapter 9
Handbook of Research on International Collaboration, Economic Development, and Sustainability in the Arctic
A customs procedure under which certain goods can be brought to a customs territory conditionally relieved totally or partially from the payment of import duties and taxes; such goods must be imported for a specific purpose and must be intended for re-exportation within a specified period and without having undergone any change except normal depreciation due to the use made of them.
Published in Chapter:
Non-Arctic Countries of Asia and Russia: Investment Collaboration in the High North
Mikail Khudzhatov (Peoples' Friendship University of Russia, Russia)
Copyright: © 2019 |Pages: 22
DOI: 10.4018/978-1-5225-6954-1.ch009
Abstract
The Arctic is characterized by a significant potential in terms of mineral resources, raw materials, hydrocarbons, and energy. In the North, mining and extractive industries are booming, but the expansion of exploration in the severe climate conditions requires the use of advanced technologies, many of which have not been developed and adopted in Russia. For this reason, there is a need to promote investment activity in the Arctic. This chapter discusses the most effective customs instruments for the attraction of foreign investments, identifies critical problems in the sphere of development of investment collaboration between Russia and non-Arctic countries of Asia (China, Japan, and the Republic of Korea), and offers practical solutions in the field of investment collaboration in the High North.
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