Roundtable discussion on ‘Blue Economy’ in New Delhi

Pathfinder Foundation, Sri Lanka and Vivekananda International Foundation, India to discuss bilateral cooperation on Blue Economy

The Centre for Indo-Lanka initiatives (CILI) of the Pathfinder Foundation (PF) will conduct a two day round table discussion on Blue Economy with the Vivekananda International Foundation, in New Delhi on 16 and 17 May 2017. The focus of the discussion will be guided by the theme ‘Sustainable Exploitation of Marine Resources’. The panellists will examine aspects of sustainable exploitation of aquatic living resources like fish and other life forms in one session. Another session will be devoted to looking at ways and means of joint exploration of non-living resources of the seabed. The focus of these efforts will be in line with the Sustainable Development Goal No. 14 of the UN to “Conserve and sustainably use the oceans, seas and marine resources”. The final session will consider maritime security issues in the Indian Ocean region, which may impinge upon the quest for Blue Economy.

The delegation representing the Centre for Indo-Lanka Initiatives of the Pathfinder Foundation will comprise Pathfinder Foundation Chairman Bernard Goonetilleke, CILI Director Admiral (Rted.) Dr. Jayanath Colombage, Ocean University Vice Chancellor Tilak Dharmaratne, Point Pedro Institute of Development Principal Researcher Dr. Muttukrishna Sarvananthan, and Pathfinder Foundation Project Manager Ameera Arooz.

Blue Economy is a relatively emerging concept founded on the premise of sustainable development of the resources of oceans, which would yield benefits not only for coastal states but also for the world at large without damaging the marine environment. While there is no overarching definition of this concept, it could be considered as an amalgamation of traditional maritime sectors of shipbuilding, shipping, port development, fisheries, aquaculture and more modern fields of marine tourism and marine leisure. It could also be expanded to include more esoteric and technology-oriented sectors of seabed exploration, deep-sea mining, ocean energy, marine bio-prospecting and biotechnology and the like.

Development of Blue Economy holds immense promise for the Indian Ocean region. The Indian Ocean is central to the world’s trade and energy supply shipping lines. It also has a wealth of natural resources, which are largely untapped. The Indian Ocean Rim Association (IORA) has been a keen supporter of development of the Blue Economy as demonstrated by adopting the theme as the top priority for generating employment and ensuring sustainability in business and economic models, at the Council of Ministers› Meeting held in October 2014 in Perth, Australia.