The Yukon and Alaska are at the cusp of a new economic frontier.

That was the message brought by Premier Dennis Fentie and Alaska Gov. Frank Murkowski to a room full of business people and government representatives at the Opportunities North trade show in Whitehorse on Wednesday.

'There are many signs that the North is coming of age and the North is indeed a land of opportunity,' said Fentie. 'There is a renewed sense of optimism in the air, and Yukon's future has never looked brighter.'

The potential building of the Alaska Highway and Mackenzie Valley pipelines provide huge opportunities for the Yukon, he said. The projects would inject billions of dollars into the North American economy, he added.

The Yukon is working to ensure it is 'pipeline-ready' and is maintaining partnerships with first nation groups, said the premier.

'We have worked collaboratively with the Northwest Territories to shut down the needless debate over competing pipeline routes.'

Both the Mackenzie Valley pipeline and the Alaska Highway pipeline will be needed to meet the energy demands in the South, he said.

Murkowski agreed that now is the time to go forth with the Alaska Highway pipeline, saying that it will happen soon.

With the demand for gas increasing in the South and an inability to find new reserves, this project is a major opportunity for the North, he said.

'The economics of the time drive the development of resources in the North. We must look to the markets of the world and we must be competitive in those markets,' he said.

The Alaska government is committed to working toward the pipeline's construction, said the governor, adding the resource development opportunities existing in the North place it in a strong position for the future.

'The North is structured and has a setting to have a significant impact on the world's economy,' Murkowski added.

The building of the pipeline would be one of the largest construction projects ever completed in North America.

The pipeline would help facilitate other northern resource development, Fentie said.

The premier also spoke of the current mining opportunities in the territory. He drew reference to Minto, the Western Silver Corp., Cash Minerals, Ketza River Holdings, North American Tungsten and Howard's Pass.

'From non-renewable resources, we have to plan ahead and recognize the reality that we want to leave a legacy when that non-renewable resource is depleted,' Murkowski added.

The current opportunities in resource development place the Yukon in line to take its place not only on a national, but international stage, said Fentie.

'All we have to do is convince our friends and neighbours to the South and the world, at large, that there is this new reality.'

Murkowski told the delegates Fentie's overview of the territory's current economic development, which also included references to tourism, telecommunications and infrastructure, was 'awe-inspiring.'

'I think it represents your administration's unique step forward to put the Yukon really out where it belongs as a frontier of resources for Canada and North America.'

The future of Alaska and the Yukon depends on the building of strong economies, he said.

'We have the opportunity now, collectively, with the tremendous resource potential to take advantage of that.'

The keynote address by the politicians came as part of the conference, which is dominated by discussion on mining, oil and gas projects, the pipelines, the possible Alaska-Canada rail link and other economic activity opportunities in the North.

The three-day trade show concludes this afternoon.