Title : Evolving from marine resources to blue economy resources
Abstract:
This paper confirms that a smooth transition of moving from traditional marine resource value chains to blue economy resource value chains are not just possible, but vital for the competitiveness and sustainability of the industry. It functions from the very definition of the blue economy to the extent that a decoupling between socio-economic development from environmental degradation is made a reality. The paper considers the minimum criteria for a successful transition from marine resources to blue economy resources. The components of the blue economy are identified based on type of activities, the oceans services, established industries, emerging industrial and its growth drivers. A functionary review of 18 potential blue economy resource exploitation and beneficiation are provided. The paper concludes by casting a look at the growth focus areas of blue economy resources. Lastly the paper refers to the possible implications for blue economy resources regarding the extension of traditional marine resource diplomacy into blue economy diplomacy, especially for the developing countries with underdeveloped coastlines.
