Collaborative approaches to developing and diversifying regional resource based economies, discussion paper prepared for the Arctic Connections conference

Many Arctic economic opportunities are based on natural resources including fisheries, oil, gas, minerals and forestry. Climate change presents opportunities for mineral resource development and other activities such as tourism. Economic diversification would help to reduce risks associated with dependence on natural
resources, as well as creating jobs. The need to balance commercial and environmental interests paves the way for further cooperative efforts. There are opportunities to utilise complementary experience across Arctic and near-Arctic regions. Given that there is long-standing expertise in traditional resource-based sectors, cooperation could focus on various aspects of research and innovation as well as economic diversification.