The Arctic is probably the last frontier for the final human expansion. Arctic melting has led to a rush for the vast natural resources as bordering countries try to assert their rights to a potential bonanza of Arctic mining for precious mineral resources, including crude oil, natural gas and gold.

Other economic benefits include new shipping lines opening up as the ice melts, which in turn also provides access to new fishing areas. The hydrocarbon deposits in a deep-water area of the Arctic Ocean are estimated at 15-20 billion tons.

The Arctic also has deposits of nickel, copper, tungsten, gold, silver, manganese, chromium and titanium. For instance, 11% of Russia's GDP and 22% of Russia's exports are produced in the Arctic. The Northern Sea Route, a major national transportation route, links the Russian Far East to western areas of the Russian Federation.

It is thus quite natural that the Arctic nations started to compete for those resources. The Arctic Big Five (The United States (Alaska), Canada, Denmark (Greenland), Norway and Russia) have all joined the race to claim vast untapped riches hidden beneath the ice. But there are a lot of complexities and challenges involved, and many of them have to be addressed by working with all parties. The work has to be done mainly through the Arctic Council, but also via multilateral institutions and bilateral partnerships.

The list of issues that need to be solved is long. From delimitation of sovereignty over an extended continental shelf, international Arctic governance, marine environment protection, use of the sea, mechanisms for a peaceful resolution of competing interests and a sustainable development of its territory. On March 29, Russian, Norwegian, Danish, U.S. and Canadian foreign ministers will meet to discuss Arctic issues in Quebec, Canada.

Among those five, Canada has a vital interest in the Arctic as the country is to a large extend defined by its northern location. It is enough to look at the map. Canada's Arctic and North make up over 40 percent of the country's land mass. The Arctic and the North are part of the Canadian national identity as the North is home to more than 100,000 Canadians across three territories: Yukon, the Northwest Territories and, most recently, Nunavut.

The government of Canada has historically proclaimed sovereignty over its Arctic territory and waters, and has periodically emphasized these claims.

The victory of the Conservative party in 2006, a party that has campaigned strongly on Arctic issues, meant a serious policy shift in favor of the northern vector of Canadian foreign policy. Canadian government's Northern Strategy was released in March 2009 and has been described as "a robust Arctic foreign policy," aiming to create "an international environment conducive of the successful implementation of the Northern Strategy." This policy is organized around four pillars:

1. Protecting Canada's environmental heritage: ?An important aspect of Canada's Arctic foreign policy is the protection of the Northern environment. Canada has long been at the forefront of the international community on this issue. The government has focused global efforts on both the impact of climate change in the region and efforts to adapt to them.

2. Promoting economic and social development: ?Canada works closely with territorial governments and northerners both domestically and internationally to help build sustainable communities, incorporating traditional knowledge and supporting traditional economic activities, such as the seal hunt.

3. Exercising Canada's sovereignty:? Canada's sovereignty and security in the Arctic remains a top priority for the Canadian government and is an important aspect of Canada's Arctic foreign policy.

4. Improving and devolving governance:? Improving and devolving governance is a domestic priority in Canada. Decision-making has been brought closer to the communities affected. The Arctic foreign policy affirms and reinforces Canada's domestic efforts to strengthen governance in the North.

For Canada multilateral resolution of issues related to the Arctic is vitally important. As of today, Canadian forces have no regimental capability readiness for a large-scale deployment in the North. The situation is the same for the Navy; Canadian Navy has no capability to operate in the Arctic ice and the Canadian second-hand diesel submarines are not up to the task of competing with the other Arctic nations' submarines.

It seems that the sad fact is that Canada has no "real and effective" permanent control over its Arctic waters despite the fact that there are some projects underway, such as the construction of military bases (e.g. Resolute Bay), creation of new military units, navy and air force procuring new type of equipment suitable for Arctic conditions. Those projects, however, will become operational only by the end of this decade.

In those conditions, the multilateral processes are of prime importance. This is why the Canadian government is so involved and committed to the work of the Arctic Council. It is only by international law that Canada can hope to settle the territorial issues in the Arctic. It is therefore perfectly suited to be the host of the Arctic nations ministerial meeting this month.