In a recent study commissioned by the British Embassy in Helsinki (@British Embassy Helsinki), Gaia set to find out what’s out for the UK businesses in the Arctic and High North?
British and Finnish strengths in these sectors are primarily mutually enforcing and create synergies by complementing different parts of the value-chain: Britain e.g. in science, finance, insurance, energy, offshore and shipping, and Finland in arctic technologies, solutions and digitalization. Also, given the extreme vulnerability of the Arctic environment, anyone considering the business opportunities in the region shall pay special attention to sustainability, environmental issues and the R&D arena; all of which are strong points for both countries.
Mapping of cooperation opportunities included e.g. blue growth and subsea technologies, digitalization know-how and shipping, offshore wind and maritime, science and arctic environmental research, health technology and tourism sectors, as well as a broad spectrum of Nordic infrastructure and industry investments. Finland’s history of trade and commerce with Russia was seen as a long-term door-opener, too, as Russia is upscaling logistics infrastructure.
Gaia presented the work on February 10th at the UK embassy for a room-full of engaged audience. The report is published by the British Embassy Helsinki along with a short news article. The report will be presented again in London in April for business, research and state officials representatives.
Year 2017 is not only the 100th Anniversary of Finnish independence, but Finland also takes the chair position in the Arctic Council and the Arctic Economic Council for a two-year period. Simultaneously, Arctic is a hot spot for several actors, creating new opportunities.
Gaia’s long expertise in Arctic issues, projects and contacts and in particular in the coordination of the Team Arctic Finland, formed the foundation for this study, and puts Gaia in a prime position to facilitate cooperation between UK and Finnish actors in order to advance the initiatives proposed in the report.