Sea based economy to be promoted

Partnerships in Environmental Management for the Seas of East Asia will launch two new reports this week at the East Asian Seas Congress 2015 in Vietnam to explore the potential for building a “blue economy” in the region.

The reports emphasise the importance of coasts and oceans to regional businesses, and call for an increased investment in the health of these ecosystems.

According to the United Nations Environment Programme, 60 percent of the world’s total gross national product comes from areas within 100 kilometres of the coastline.

Coastal ecosystems face increasing threats that diminish the ecological health, environmental resilience and socio-economic potential of these areas.

The United Nations Development Programme reports that impacts from overfishing, marine pollution, invasive aquatic species, coastal habitat loss and ocean acidification cost the global economy an estimated $350 to $940 billion every year.