The Blue Growth communication will feature as one of the main issues for discussion during the Cyprus Ministerial Conference on the Integrated Maritime Policy being held in Limassol on 8 October 2012.
According to the Commission, these economic sectors provide jobs for 5.4 million people and contribute a total gross value added of around 500 billion euros. By 2020, these should increase to 7 million and nearly 600 billion euros respectively.
To realise this potential, the Commission establishes that obstacles hindering growth have to be removed and smart solutions to boost new sectors need to be implemented. By promoting marine research and innovation, by supporting innovative SMEs, by addressing skills needs and by encouraging innovative products and solutions, Europe can unlock the untapped potential for growth in its blue economy while safeguarding biodiversity and protecting the environment. Traditional sectors such as maritime transport and maritime and coastal tourism will gain in competitiveness. Growing and emerging sectors, such as ocean renewable energy and blue biotechnology, can become a key to creating more jobs, cleaner energy, and more products and services. (ANSAmed).