(Date of Speech: May 18, 2012)

(Check against delivery)

Before we get the day's sessions started, I would like to express how much of an honour it is to once again be in Whitehorse – the home of both the Kwanlin Dun and the Ta’an Kwach’an First Nations.

It would be most appropriate to have a welcome prayer performed by a local First Nation elder. I would like to introduce Ms. Annie Smith, a member of the Kwanlin Dun First Nation to perform a prayer.

Colleagues, in my capacity as your Chair, I would like to call this formal part of our Arctic Caucus meeting here in Whitehorse to order.

Last August, I had the pleasure of hosting the Arctic Caucus and Capital visit in Yellowknife. It was about this time last year that we started to realize just how much work and coordination goes into hosting a PNWER event. So with that, I would like to officially thank Minister Currie Dixon – and his team - for hosting us here in Whitehorse.

The forum provided by these Caucus meetings is certainly one in which I feel that we are growing and advancing a momentum that will carry our collective regional economic interests into the future.

I hope I speak for everybody when I say how much I appreciate the opportunity to get together and engage with each other as well as our guests and colleagues.

Prior to formally handing over my chairmanship of this Arctic Caucus to Minister Dixon, it is my pleasure to offer some remarks in my capacity as the Minister of Industry, Tourism and Investment for the Government of the Northwest Territories.

Alongside Alaska, the Northwest Territories proudly represents the extreme end of the Pacific Northwest region. It’s a location that has been garnering us a lot of attention lately.

The world is realizing two things that we have always known to be true - the Arctic holds a key strategic place in the world – and is a vast land full of promise. Economies around the world are starting to recover; and as they do, the global search for resources has spurred exploration and development across Canada’s North. Resources that our territory has in abundance include: base metals, precious metals, minerals, oil and gas and renewable energy.

Our economy has continued to grow throughout the economic downtown. We are excited at the prospect of building a vibrant multi-pronged economy.

However, if we want to become a prosperous, self-sufficient territory providing opportunities for our residents, we are going to need a number of things to fall into place.

Regulatory certainty and the devolution of revenues and authorities around resource development are key issues for us in the NWT and we are working with the Government of Canada to address them.

While we do, we are also working to build a culture of collaboration with our industry and Aboriginal partners and stakeholders so that, together, we can maximize the NWT’s economic potential on all fronts. We have a wealth of resource potential but most of it is going untapped. We lack the infrastructure necessary to access these resources and bring them to market.

Finding the means and the partners to do this is one of the key ways that the Government of the Northwest Territories is working to sustain and develop its economy.

Which brings us back to what we are doing today.

I believe the challenge of great resource wealth in the face of infrastructure deficit is one that we all share as Arctic Regions.

It is a challenge that calls for creative approaches and a renewed commitment to constructive partnerships – both with government and industry.

I believe it is a challenge our Caucus is helping to address by raising awareness in the inherent potential that exists within our collective Arctic for development, investment and partnership.

The Arctic is poised to realize substantial investment and economic activity in the years ahead.

The reality of our location and capacity, however, is that when our resources are developed, neighbouring jurisdictions benefit. All of our current transportation and trade linkages – be they pipelines, roads, rail, marine or telecommunications – are through neighbouring provinces adjacent to PNWER states.

Through our Caucus, we have an opportunity to grow our relationships and to build a stronger and more stable regional economy for the entire Pacific Northwest.

It was my pleasure to host PNWER’s first visit to the NWT, which included the Capital Visit last August. We continued those discussions in Juneau in January and then took our message and awareness campaign to Legislators in Washington this past March.

And as I hand over the chairmanshipthis morning here in Whitehorse, we are continuing this valuable exercise of awareness building in the Yukon. In my mind, there is no clearer – more permanent or lasting assertion of our Arctic sovereignty than strong communities, thriving economies, and healthy people.

I think our Caucus can play a key role – and I’m pleased to be able to provide the leadership and coordination of these important next steps to Minister Dixon.