[Source for this article: Arctic Economic Forum]
What is the Arctic Economic Council?
The Arctic Economic Council (AEC) is an independent organization that facilitates Arctic business-to-business activities and responsible economic development through the sharing of best practices, technological solutions, standards, and other information.
AEC's work is to facilitate responsible business and economic development of the Arctic and its communities. Their goal is to share and advocate for best practices, technological solutions, and standards. The AEC supports market accessibility and provide advice and a business perspective to the work of the Arctic Council. AEC's members represent a wide range of businesses operating in the Arctic—from mining and shipping companies to reindeer herding and indigenous economic development corporations. This mix of interests across business sectors ensures that work is carried out in an inclusive and sustainable manner. Representing the wide variety of Arctic businesses, it is important for the AEC to also be the voice of small and medium sized enterprises.
AEC represents the true depth of Arctic know-how. Among its representatives AEC has experience in doing business across the Arctic. Local knowledge is often key in operating in the Arctic. Engaging with the AEC gives you the opportunity to access both local and indigenous knowledge.
The AEC Secretariat is located in Tromsø, Norway.
Which are purpose and goals of AEC?
The Arctic Economic Council (AEC) was created by the Arctic Council during the 2013-2015 Canadian chairmanship. The AEC held its inaugural meeting in Iqaluit, Nunavut on September 2-3, 2014.
- AEC VISION:
To make the Arctic a favourable place to do business
- AEC MISSION:
To facilitate sustainable Arctic economic and business Development
- AEC GOALS:
Facilitate responsible business and economic development of the Arctic and its communities
Share and advocate for best practice, technological solutions, and standards
Support market accessibility
Provide advice and a business perspective to the work of the Arctic Council
The AEC is open to corporations, partnerships and indigenous groups that have an economic interest in the Arctic. There are three membership groups:
- Legacy Members: Legacy membership includes 3 business representatives from each Arctic state and 3 representatives from each Permanent Participant organization. This is the voting membership of the Arctic Economic Council.
- Arctic Partner: Global focus is shifting North and there is growing interest by non-AEC members to participate in the AEC. If we are true to the “AEC Way” of building on the pillars of collaboration, partnership, innovation and peace, it is imperative for the AEC to provide both Arctic and non-Arctic stakeholders an opportunity to participate, interact and collaborate with the Legacy Members of the AEC. By creating two different non-voting membership categories the AEC ensures that it is open to corporations, partnerships and indigenous groups that have an economic interest in the Arctic. Members may contribute to AEC content, in various forms including, but not limited to, submitting ideas, participating in Working Groups and making presentations.
- Permafrost Partner: Micro, small and medium businesses support the “active layers” in our remote Arctic communities. They bring an important perspective about doing business in the Arctic. They deserve an opportunity to have a voice within the AEC. The Permafrost Partner is designed for micro, small or medium businesses with 15 employees or less with their business domiciled or headquarters located within an Arctic state.
The AEC is open to corporations, partnerships and indigenous groups that have an economic interest in the Arctic. We are open to membership applications from Arctic and sub-Arctic entities. For further information on how to become a member of the Arctic Economic Council, please click “Membership” underneath and feel free to contact the AEC Secretariat: info [AT] arcticeconomiccouncil [DOT] com
Read more: Arctic Economic Council Website