"The Artic has been a very popular topic recently, and Russia has been restoring and expanding its resources there more and more," said the Head of the Analytical Center Konstantin Noskov opening the panel session "Integrated Transport Infrastructure of the Region. The Northern Sea Route as a Transport Corridor of Global Importance", which was held as part of the conference on the economic development of the Arctic organized as part of the 20th Saint Petersburg International Economic Forum.
"When you consider the Arctic from the point of view of economics, the first thing that comes to mind is that this vast territory shall be considered as a major transportation route that is hardly being used in global trade today. Last fall, the President instructed the Government to come up with a financial and economic model for the Northern Sea Route and investigate the ways it can be used, including, for international deliveries, and we are already seeing some results today," Mr. Noskov reminded.
Participants in the session noted that the development of the Northern Sea Route may offer a comprehensive solution to a whole host of economic, demographic, social and political problems faced by Russia’s northern regions and by the country as a whole. At the same time, there are a number of obstacles people have little control over, ranging from harsh weather conditions to the lack of the requisite technologies and experience. The experts discussed the ways of overcoming them.