ST. PETERSBURG, June 4. /TASS/. Russia and the United States have opportunities to expand cooperation in the Arctic in the fields of energy, resource mining, nuclear power, and environmental protection. Sergey Katyrin, the President of the Russian Chamber of Commerce and Industry, told TASS at the St. Petersburg International Economic Forum (SPIEF).

"The Arctic is a very important and promising area for cooperation. The development of the northern territories is a priority for both sides. Both Russia and the United States largely link their future economic development to subpolar deposits and fields," he said.

Cooperation in the Arctic is likely to expand across various sectors, from energy to mineral resource development, Katyrin said. Russia is already a leader in small-capacity nuclear energy technologies and this opens up additional opportunities for long-term industrial cooperation and research dialogue, he noted.

"In addition to the industrial sector, our countries will inevitably have to cooperate on environmental issues. Economic activity will take place in neighboring regions, and the northern environment is particularly vulnerable to technological intervention and human impact," said the head of the Chamber.

Katyrin added that environmental protection in the Arctic could become a separate area of cooperation in the fields of technology, scientific research, funding for environmental projects, and waste management.

"We cannot do without joint action in this area. Overall, the prospects for mutually beneficial economic relations between Russia and the United States are virtually limitless," he concluded.