President Joe Biden, Canadian Prime Minister Justin Trudeau and Finland President Alexander Stubb agreed to the Icebreaker Collaboration Effort Pact in a memorandum of understanding.
"We have embarked on a transformative partnership that strengthens our ability to uphold international rules and maintain security in the Arctic and Antarctic regions," the three leaders said in a news release issued by the U.S. Department of Homeland Security.
Biden, Trudeau and Stubb initially agreed to the ICE Pact during a NATO Summit in Washington in July and formalized the agreement with the memo of understanding.
"By jointly developing and producing world-class Arctic and polar icebreakers, we are laying the foundation for a resilient and competitive shipbuilding industry capable of meeting both national and global demand for these critical assets," the leaders said.
They said the agreement "underscores our collective commitment to peace, stability and prosperity in the Arctic and polar regions."
Building icebreakers faster and on a larger scale while combining resources helps to lower costs to build the specialty vessels.
The pact says the three nations will work together to share information, knowledge and resources to design and build world-class icebreakers to keep shipping lanes open in the Earth's polar regions.
The agreement also provides for enhanced exchange of information, workforce development and greater engagement among allies and their partners, according to the Department of Homeland Security.
The pact further supports greater research and development of world-class icebreakers while supporting high-quality manufacturing jobs in the maritime infrastructure industry, according to the DHS.
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