| Publication |
2013.
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| Summary/Abstract |
For the next few decades, the Arctic will provide problems and prospects which may induce inevitable competition for the lion`s share among the stakeholders. While the arctic was perceived as an undiscovered area and a non-navigable ice cap in the past, recent environmental and scientific changes have brought to the fore the assets of the region. The current size of the ice cape has shrunk by more than 40 percent compared to its size in the late 1970s, which has disclosed an area of open water. The enlarged open water provides the opportunity to explore more economic benefits, and for larger marine and other military activities. The major stakeholders sharing the coastal line of the Arctic are eight states member of the Arctic Council: Canada, Denmark, Finland, Iceland, Norway, Russia, Sweden and the United States. Presently, these states are putting in their utmost efforts in to investigating and participating in exploring the Arctic, which will be the foundation of the legal claim for sovereignty.
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