Arctic policy of the Kingdom of Denmark Arctic policy of the Kingdom of Denmark The Arctic Policy of the Kingdom of Denmark defines Denmark's]] foreign relations and policies with other Arctic countries, and Denmark's]] Strategy for the Arctic on issues occurring within the geographic boundaries of "the Arctic" or related to the Arctic or its peoples. The Kingdom of Denmark is an Arctic nation with the importance of the Unity of the Realm with Denmark in Europe and the self-governing countries Greenland in the Arctic and the Faroe Islands in the North Atlantic. Since Denmark is a member state of the European Union, (along with Finland and
Greenland a tight fiscal policy since the late 1980s, which has helped create surpluses in the public budget and low inflation. Since 1990, Greenland has registered a foreign-trade deficit following the closure of the last remaining lead and zinc mine that year. More recently, new sources of ruby in Greenland have been discovered, promising to bring new industry and a new export from the country. (See Gemstone industry in Greenland). Air transportation exists both within Greenland and between the island and other nations. There is also scheduled boat traffic, but the long distances lead to long travel times and low frequency.