By efficient management, the sustainable exploitation of resources in oceans, seas, lakes and rivers—also known as the blue economy—could contribute up to $1.5 trillion to the global economy, according to the Organisation for Economic Cooperation and Development, an intergovernmental organization comprising of 36 countries.
In November last year experts, government officials, environmental activists, policy makers and academics converged in Nairobi, Kenya, for the Sustainable Blue Economy Conference.
With the theme “Blue Economy and the 2030 Agenda for Sustainable Development,” the conference, convened and hosted by Kenya, with Canada and Japan as cohosts, looked at new technologies and innovation for oceans, seas, lakes and rivers as well as challenges, potential opportunities, priorities and partnerships.
Africa has 38 coastal and island states and a coastline of over 47,000 km, and hence presents an enormous opportunity for the continent to develop the sectors typically associated with the blue economy, says Cyrus Rustomjee, a blue economy expert and a senior fellow at the Centre for International Governance Innovation.
Blue economy is a term in economics relating to the exploitation and preservation of the marine environment. Its scope of interpretation varies among organisations.
According to the World Bank, the blue economy is the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem.
European Commission defines it as "All economic activities related to oceans, seas and coasts. It covers a wide range of interlinked established and emerging sectors."[2]
The Commonwealth of Nations considers it an emerging concept which encourages better stewardship of our ocean or 'blue' resources.
Conservation International adds that blue economy also includes economic benefits that may not be marketed, such as carbon storage, coastal protection, cultural values and biodiversity
The Center for the Blue Economy says it is now a widely used term around the world with three related but distinct meanings- the overall contribution of the oceans to economies, the need to address the environmental and ecological sustainability of the oceans, and the ocean economy as a growth opportunity for both developed and developing countries.
A United Nations representative recently defined the Blue Economy as an economy that comprises a range of economic sectors and related policies that together determine whether the use of ocean resources is sustainable. An important challenge of the blue economy is to understand and better manage the many aspects of oceanic sustainability, ranging from sustainable fisheries to ecosystem health to preventing pollution. Secondly, the blue economy challenges us to realize that the sustainable management of ocean resources will require collaboration across borders and sectors through a variety of partnerships, and on a scale that has not been previously achieved. This is a tall order, particularly for Small Island Developing States (SIDS) and Least Developed Countries (LDCs) who face significant limitations. The UN notes that the Blue Economy will aid in achieving the UN Sustainable Development Goals, of which one goal, 14, is "Life Below Water".
IN a move to tackle foreign domination of shipping business in Africa, the African Union (AU) has adopted the Deep Blue Economy strategy by taking initiatives to promote maritime transport, port activities, maritime security, as well as interstate exchanges. AU is also expecting port activity in Africa to reach two billion tonnes by 2040. The port of Dar es Salaam in Tanzania carries many imports from India and China.
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