Greenland, Fisheries and Coalition Building

Abstract

The report seeks to illuminate both the drivers of the Greenlandic economy, the current geopolitical climate and the sector, which is the current primary responsible for international investments into Greenland, namely fisheries. The fisheries industry, however, is prone to volatility, as the price of sea fluctuates. This creates risks for the companies involved in the industry, as well as for Greenland, where more than 95 percent of exports are fisheries and seafood. This study investigates the possibility for the island’s largest fisheries company, Royal Greenland, to rethink parts of its business model and allow for its global sales and marketing teams to help other aspiring Arctic business for a fee. As such, the report remarks that Royal Greenland’s capabilities with regard to its global network is unique amongst fisheries companies that operate in the Arctic. The strategy in question would see the company partner with a Canadian-Inuit company, which would be able to use the sales channels of Royal Greenland by paying a premium. However, the company in question gains something in return, as the company in question adheres to the same values as Royal Greenland and fishes some of the same species, thus it would be opportune for the companies to knowledge-share and the Canadian-Inuit company would have a strong partner knowledgeable of Inuit practices to market its products in global markets.