No Image

The world has started giving importance to blue economy but Pakistan has not yet paid heed to this almost lasting opportunities. The idea of 'Blue Economy' recognizes the seas and oceans as main drivers for economic development with great potential for innovation and growth. A sustainable blue economy is a marine-based economy that contributes to food security, poverty eradication, livelihoods, income, employment, health, safety, equity, and political stability. Some countries have also taken it upon themselves to implement strategies and policies that support the idea of Blue Economy. Among these are Denmark and Norway that have a clear focus on the shipping industry. According to the United Nation, Every year, the ocean economy has an estimated turnover of between US$3 and 6 trillion. This includes employment, ecosystem services provided by the ocean, and cultural services. It is also estimated that fisheries and aquaculture contribute $US100 billion per year and about 260 million jobs to the global economy.