Blue Economy

Sustainable development and the overuse of resources have become one of the most critical concern in this growing and changing world. Meanwhile, we cannot ignore the importance of economic development in a country’s growth. These two ends can work unharmed when we amalgamate them into a single term. Sustainable economic development is the key to the successful growth of states where we can fulfil our growing needs while conserving environmental resources. The blue economy is one of those concepts that are necessary to implement but are rather reckless.

What is the Blue economy?

The increasing global challenges like climate change, pollution, political unrest and scarcity of resources increased the need for this concept more than ever. The term Blue Economy was first proposed at the Conference of the United Nations on Sustainable Development and Growth in Rio in 2012. It is an emerging concept that helps promote the economic benefits of water resources while conserving them to a sustainable level. This concept not only circles around the sustainable use of water resources but aims to educate people about their economic and ecological importance.

The Center for the Blue Economy precisely defines it as “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.” As we can see, Blue Economy has the potential to attain sustainable benefits from marine resources if taken into consideration by states.

Blue economy has various components, such as promoting healthy tourism, maritime transport, and establishing marine industries. It also covers new services like aquaculture, offshore renewable energy and marine biotechnology. The blue economy also considers the conservation of natural services provided by marine ecosystems, including coastal protection, mitigating water pollution and protecting marine biodiversity.

Blue Economy and Pakistan:

Pakistan is blessed with an approximately 1050 Km long coastline and is considered an important maritime state. Pakistan’s maritime sector has the capacity to bring the crippling economy into stability if utilized efficiently. If followed, some main factors discussed below will give Pakistan a thriving blue economy. The government and stakeholders should pay attention to protecting and restoring marine biodiversity. There is also a need to get maximum productivity from the ocean while maintaining its natural habitat.

Introducing clean technologies and renewable energy will not only help the marine ecosystem but also give the state a clean energy supply simultaneously. Before digging deep into the future aspects and potentials of Pakistan’s blue economy, let us look at how marine ecosystems are a tremendous economic frontier in Pakistan and how major economic activities are related to blue economy.

Fishing Industry:

According to research, Pakistan exports about 240 million US dollars’ worth of fish and seafood annually. This industry contributes about 1% of the GDP and gives employment to almost 1.5 million people around the country. Hence, the fishing and seafood industry plays a huge role in our economy if utilized carefully. But unfortunately, this industry is under threat due to overexploitation and unauthorized ways of fishing.

Transit Trade:

Trading or shipment through waterways is the oldest yet most widely used way of trading. Pakistan’s 95% of trade and 100% petroleum imports are done by sea. Due to the increasing population, the import and export demand is also growing. Our maritime trade can give us efficient economic growth if we do not exploit its environment.

Tourism:

The tourism industry is one of the most significant contributors to a state’s economy. But this industry has its environmental shortcomings, such as pollution. Moreover, Pakistan needs a comprehensive idea of coastal tourism, and this industry needs to catch up to be identified as a source of revenue. Including those discussed above, numerous other services are related to blue economy as well.

Blue economy in Coastal Country (Pakistan):

Acknowledging the importance of the marine ecosystem is the foremost thing that public and private sectors should adopt. It’s important that the authorities must comprehensively assess many of the maritime ventures. If establish effective maritime policies and strategies, many investors jump in and benefit to the country and help society. Moreover, financial support is needed for the activities such as aquaculture and fisheries & marine ecology sector.

Reviving the industries directly or indirectly related to marine ecosystems through regional and international collaboration is the need of time. In addition, the government should promote clean technologies and infrastructure for circular material flow to reduce waste and support recycling. While initiating new incentives, the government should also develop proper compliance mechanisms to implement those policies. Maintaining and protecting port infrastructure, fish industry, and marine pollution are also valuable to help establish a blue economy.

Pakistan has started to tread the path of adopting blue economic strategy, but it still needs a lot of work and consideration from authorities. The goal of sustainable economic development can only be achieved when hurdles of political instability, lack of financial aid and lack of awareness are rectified. An organized framework of policies and connected efforts from all sectors is needed to achieve Pakistan’s goal of a stable blue economy. Water Care Services can do piloting and prototype on sea water agriculture, & aquaculture through its incubation center and  partnerships.

In the pursuit of a flourishing ‘Blue Economy,’ it is essential to address challenges like arsenic in the ground water of major cities in Pakistan, emphasizing the need for a delicate balance between ‘Blue’ economic progress and environmental sustainability in both ‘Greens’ and waters.