The union of Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia established in 2014 for the effective promotion of free movement of goods, services, capital, and labor between participating countries.
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.