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Home BUSINESSNorden eyes growth in blue bio-economy
Wed, 21 Dec, 2016 11:29:28 PM
FTimes Report, Dec 21

The Nordic Council of Ministers has set out common objectives for business relating to water and aquatic natural resources.

These are specified in the Nordic Road Map for Blue Bio-economy, completed under Finland’s Presidency in December 2016, said an official press release.

Cooperation will be enhanced especially in aquaculture, that is, farming of fish and other aquatic animals, and development of high value added products such as food, cosmetic and pharmaceutical products.

Other fields for cooperation specified in the Road Map are water expertise and wellbeing services. Through closer cooperation and by sharing new concepts the Nordic countries aim for rapid growth of blue bio-economy.

In the Nordic countries efforts will be made to increase research and innovation activities with companies to create new and successful products and services. In the beginning of 2017 an application process will be organised to promote the creation of Nordic innovation networks.

In the global context, the Nordic countries are in an excellent position to be pioneers in blue bioeconomy. They also have diverse expertise of a high standard in the field. In the development work the focus will be on a market-driven approach, innovation and efficient use of resources. Finland has recently adopted a national development plan for blue bioeconomy. 

Blue bioeconomy refers to business activities based on the sustainable and smart use of renewable aquatic natural resources. It comprises activities such as fishing, fish processing and aquaculture, business based on water expertise and technology, tourism and recreation based on waters and the aquatic environment, and utilisation of aquatic biomass, e.g. algae.  The Nordic Road Map for Blue Bioeconomy was one of the key achievements of the Finnish Presidency in the Nordic Council of Ministers in 2016.

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