The Arctic is claimed by several world powers which mostly border the region. The trouble is, that while the area is rich in resources and has a great economic potential, there are many disagreements on the extent and legitimacy of claims but also on the way how to use the Arctic resources. Many experts are calling for a strict protection of Arctic and for saving its resources either into future or leaving them for good as to protect the environment. That is however most likely unrealistic and it must be therefore determined by this committee how to responsibly and ecologically use the resources and how to prevent a potential conflict among the superpowers in the area as many of the resources present in the Arctic are getting more and more scarce in the rest of the world.
The trade in the world has currently been disrupted by several disputes mostly initiated by the USA as it is trying to lower its trade deficit with China, EU and its neighbours in the Americas. While strictly legally speaking USA is in the right to balance its trade ratio, the way of conduct it has chosen with very aggressive politics has sent the world market into a panic for a time and the changes in customs have disrupted many trade lines and as a result have hurt the economics of many states. It is vital to put forward and answer a question in the current era, whether a free trade treaty with more or less balanced ratios is in the interest of the world or at least some states. The ECOFIN should also answer whether there is a way to prevent this situation from happening again while not touching the rights of sovereign states in their trade policies.