Blue Economy Initiatives in South-East Asia: Challenges and Opportunities

Intan Murnira Ramli and Tomy Waskitho
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Intan Murnira Ramli: Economic Research Institute for ASEAN and East Asia (ERIA)
Tomy Waskitho: Economic Research Institute for ASEAN and East Asia (ERIA)

No 2023-RPR-17 in Books from Economic Research Institute for ASEAN and East Asia (ERIA)

Abstract: The Blue Economy has emerged as a compelling strategy for safeguarding inland water and ocean resources while fostering economic growth. In ASEAN, the Blue Economy's contribution to GDP varies widely, ranging from 1% to as high as 30%. Recognising the Blue Economy's potential as an alternative growth engine while preserving sustainability, ASEAN leaders endorsed the ASEAN Blue Economy Framework at the 2023 ASEAN Summit in Jakarta. This report sheds light on the immense and untapped marine potential of the Southeast Asian region. Additionally, it highlights the distinct approaches taken by individual ASEAN Member States in addressing the challenges and opportunities presented by the Blue Economy. Despite these differences, there is a shared recognition amongst ASEAN Member States of the paramount importance of strong collaboration, particularly in tackling current and emerging challenges such as climate change, habitat destruction, inadequate regulatory frameworks and awareness, poor resource management, and gaps in data and scientific knowledge.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:era:eriabk:2023-rpr-17

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