Experts: Blue economy is where Zanzibar, Egypt’s future lies

SOCHI, RUSSIA

Zanzibar, Egypt and other economies on the sea space will have the blue economy the economy of the future because of its unique opportunities to become a platform for cooperation between the governments and businesses.

The blue economy supports the lives of more than three billion people and is the 7th largest economy in the world which is growing annually and will reach US dollars three trillion by 2030. The assets of the world ocean are estimated to be worth US dollars 25 trillion.

Experts from Egypt, India, the UAE, and Russia noted that the 12th edition International Forum ATOMEXPO 2022 in Sochi where they discussed the outlook and challenges for the development of the ocean economy.

Participants exchanging experiences outside meeting rooms in the 12th edition of the ATOMEXPO-2022 International Forum in Sochi, RussiaTalking on the experience of Egypt and other African governments like Zanzibar-Tanzania on the aspects of the development of the blue economy, Professor Mohamed Ahmed of the Physical Oceanography of the National Institute of Oceanography and Fisheries, Egypt said in maintaining a balance between economic development and the sustainability of marine ecosystems is extremely important when investing in projects of the ‘blue economy such as sustainable fishing, aquaculture, marine renewable energy sources, and marine transport.
Professor Ahmed added that it is worth noting the support of developing will help in the environmentally oriented approach to the management of marine resources.

An Associate Professor of Department of Humanities and Social Sciences of the Birla Institute of Technology and Science in India, Rudra Prasad Pradhan says Indian Ocean is spread over 70 million sq.km and It is a sea space connecting with 40 countries making it a major oil supply and trade lane. He says India looks at seas and oceans as a critical maritime platform for showing experience and collective economic growth.
The blue economy includes traditional and emerging industries: shipping, port infrastructure, shipbuilding and ship repair, marine construction and dredging, offshore gas and oil production, marine R&D and education, fishing and seafood processing.

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