IORA’s 4th Blue Economy Ministerial Conference on “Ocean Wealth and Ocean Health through the Blue Economy” be held virtually on 11 August 2023 at 10:00 (Sri Lanka time) and will bring together ministers, government officials and experts from IORA Member States, its dialogue partners , delegates from universities, scientific institutes and research communities, think tanks, the private sector and relevant United Nations bodies.
Previous IORA Ministerial Conferences have focused on greater collaboration and ambition in ocean-based growth. In continuing with these efforts, the Fourth IORA Ministerial Conference seeks to highlight sustainability in ongoing blue economy efforts and future collaboration. To successfully devise sustainable blue economy plans, however, the long-term participation of coastal communities is essential. In that regard, alternative livelihood approaches and resource value addition processes will also need to be viewed through a sustainability lens. To develop a holistic approach, IORA Member States should seek to foster pathways for collaboration not just between various levels of government, but between civil society organizations and the private sector between Member States.
Sri Lanka as a developing island state believes that by employing a synergistic, sustainable development strategy under the theme of “Ocean Wealth and Ocean Health”, IORA Member States will be better aligned to changing global trends. Greater access to private sector and non-traditional financing will be made available as financial institutions are increasingly adopting a sustainability mandate. Furthermore, as voluntary international cooperation in the environmental discourse pays closer attention to the role of the blue economy, IORA Member States have an opportunity now to demonstrate the effectiveness of regional participation in the implementation of innovative blue economy activities
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