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Oceans cover 72% of the surface of our blue planet and constitute
more than 95% of the biosphere. Life originated in the oceans and
they continue to support all life today by generating oxygen,
absorbing carbon dioxide, recycling nutrients and regulating global
climate and temperature. Oceans provide a substantial portion of the
global population with food and livelihoods and are the means of
transport for 80% of global trade. Throughout and subsequent to the
Rio +20 process there has been a growing appreciation that the
world’s Oceans and Seas require more in depth attention and
coordinated action. This has been reflected in various initiatives inter
alia the UNDESA expert group meeting on Oceans, Seas and
Sustainable Development, the work of the Global Ocean
Commission, the Global Partnership for Oceans and the prominence
given to oceans and seas in the UN Action Agenda. Healthy
oceans are essential for global food security, livelihoods and
economic growth.The world faces one of the biggest challenges of
the 21st century: how to feed 9 billion people by 2050 in the face
of climate change, economic and financial uncertainty and the
growing competition for natural resources. These multiple challenges
require an integrated response and an urgent transition of the world
economy towards a sustainable, inclusive and resource efficient
path.In 2012, the world formulated its Blue Economy strategy to
harness the potential of oceans, seas and coasts for economic
growth and jobs. With high unemployment levels and resource
crunch, the coastal countries and Small Island Developing States
formulated the blue economy strategy with the objective to promote
smart, sustainable and inclusive growth and employment
opportunities through utilization of the drivers of maritime economy
such as seas, coasts and other maritime resources.