The ‘blue economy’ is an evolving development approach centred around sustainable utilisation of the ocean for its full socio-economic potential. It seeks to promote economic growth, social inclusion, and the preservation or improvement of livelihoods, while at the same time ensuring environmental sustainability of ocean and coastal areas. Perhaps nowhere is the blue economy more relevant than in the Caribbean, where it directly supports the economies of 37 coastal and small island countries and territories.
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Post-COVID-19 Economic Recovery and Building Resilience for the OECS
Member countries of the Organisation of Eastern Caribbean States (OECS) have jurisdiction over maritime areas that are significantly larger than their respective land areas and are, therefore, increasingly looking to their maritime waters to both diversify and bolster economic growth by exploring new opportunities for investment, employment and to support local livelihoods. Not only do opportunities exist for growth and innovation in traditional sectors, such as fisheries, marine transport and marine-based tourism, but also to expand into higher-value emerging sectors such as sustainable aquaculture, marine biotechnology and marine renewable energy.