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participating EU Members States in national capacity; Regional Councils, e.g. the Arctic Council (AC), the Barents Euro-arctic Council (BEAC), the Council o f the Baltic Sea States (CBSS) and the Nordic Council of Ministers (NCM); International Financial Institutions (IFIs), e.g. European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Nordic Investment Bank (NIB) and the Nordic Environment Finance Corporation (NEFCO) as well as other financial institutions; universities and research centers and business community; Canada and the United States as observers; Belarus participates in practical cooperation. Aims: promote dialogue and concrete cooperation; strengthen stability, well-being and intensified economic cooperation; promote economic integration, competitiveness and sustainable development in Northern Europe. The main spheres o f cooperation are environmental protection, energetic, health care, IT and communications, boundaries infrastructure, researches, regional and cross border cooperation, trading, entrepreneurship, business and investment project and etc. There are also quite a large number o f different organizations having joint activities in the spheres of financial institutes and Arctic studies now. The issue o f integration o f the countries o f the European North is important not only in the sphere o f their so called internal integration but also at the level o f EU integration. The countries o f the Northern Europe made several attempt to deepen their economic cooperation, but for example in 1960 not all the countries joined the European Economic Community (EEC) founded the European Free Trade Association (EFTA) which had s strong stimulating effect on intra-Nordic trade [5]. Close integration of the northern European countries has become even more valuable in the midst o f the turmoil currently plaguing the European Economic and Monetary Union. The northern countries’ good reputation and their tried and tested credibility is just what European integration as a whole needs right now. In addition to new euro countries, the potential EU membership o f Iceland and Norway would substantially augment the integration progress. The Baltic Sea region now needs a substantial effort to increase economic cooperation, transport and improve safety. These issues are also essential elements o f the EU Baltic Sea Strategy [6]. In the short term the EU must make its integration decisions after careful deliberation and using discretion in certain cases. The European integration process has always influenced the political settings in the Northern Europe, but it was and it is quite limited. But here we have to distinguish two levels of integration in the European North: the vertical integration that means all the integrative processes between the countries o f the European North and the EU and the horizontal integration that presumes regional level integration directly between the states o f the European North. It is worth to admit that these two levels are often interrelated. Concluding it is important to underline that processes o f regional integration at level of economic and political cooperation in the European North is characterized by high speed and constant development with the aim o f widening and strengthening o f the cooperation in the North in different spheres with such a consequence as full integration o f the European North in the developed policies of the EU. Besides that it is important to notice that cooperation in the European North has its own historical experience starting from the periods o f face-to-face postures to the periods o f integration processes. But is more important is that in all integration processes the principle o f good neighborhood is placed and there are some strong regional institutions as for example BEAC and Arctic Council which are often called as the sub­ regional engines o f the Northern Europe. It is also worth to notice that in the light o f all the political and economic integration processes special attention should be paid to national interests o f the RF. Foundation of different regional integrated unions unfortunately do not exclude the certain geopolitical contradictions in the European North especially in the issues connecting to the Arctic. Integration processes in the European North and the RF as a strong partner of all these movements show the positive intentions for creating a good platform for further development and cooperation within the vital spheres for North. References 1. Miles, L. Sweden and European Integration. Brookfield, VT: Dartmouth, 1997. 2. Atikcan, E.O., “Widening and Deepening o f European Integration: Challenges and Strategic Choices Facing the European Union”, 6thEUCE conference, Dalhousie, April 11-13, 2012. 3. Gizelis, T.I., “Globalization, Integration, and the European Welfare States”, Chapman University. International Interactions, 31: 139-162, 2010. 4. Andersen, T. M., “International integration and the welfare states”, Cambridge University Press, 2009. 5. Bonnen, P., Sosted, M. The origin, development and perspectives of Nordic Cooperation in a New and Enlarged European Union. In: Ostetteichische Zeitschrift fur Politicwissenschaft, Nr.1/2003, pp. 19-23. 6. Perspectives o f Northern EU Integration, The central Chamber o f Commerce o f Finland, June 2010. Mode o f access : www .keskuskauppakamari.fi 73