The Arctic stands at the threshold of significant changes. Climate change and the melting of ice have a potential impact on vulnerable ecosystems, the livelihoods of local populations and indigenous communities, and the potential exploitation of natural resources. By virtue of their sovereignty, sovereign rights and jurisdiction in large areas of the Arctic Ocean, the five coastal states are in a unique position to address these possibilities and challenges. In this regard we recall that an extensive legal framework applies to the Arctic Ocean.…Notably, the law of the sea provides for important rights and obligations.…This framework provides a solid foundation for responsible management by the five coastal states and other users of this Ocean through national implementation and application of relevant provisions. We therefore see no need to develop a new comprehensive international legal scheme to govern the Arctic Ocean.