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Leaders focus on how to maximise ocean economy

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Global leaders and more than 4000 international participants are looking at how to maximise the oceans’ economy. In 2014 South Africa launched Operation Phakisa in a bid to unlock the economic potential of its oceans.

The Oceans Economy programme is expected to contribute billions to the GDP by 2033 and to create jobs. The SABC spoke to the South African delegation on the side lines of the meeting in Nairobi Kenya.

Tuesday  marks the second day of the Sustainable Blue Economy conference. Leaders are hoping to build a blue economy using the latest innovations.

“We estimate that the worth of the economic activities that we can derive from our oceans is bigger than we ever thought in terms of possibilities. For instance right now oceans economy is worth R44 billion and we project by 2030 or 2033 it will be more than R170 billion. That will translate to about a million jobs. That is something that is important for our country,” says Minister of Transport Dr Blade Nzimande.

South Africa is currently exploring various activities through its flagship project Phakisa to expand its economy. “What is it that we looking at, again a number of things but amongst others is aquaculture. Secondly we have started some explorations whether for oil and other resources as well. We hope that we will be able to find something over and above what we believe that actually exists,” says Nzimande.

However, the Minister says there is a need for African countries to balance commercial gain and at the same time conserve the oceans.

“From a global perspective, we need to be looking into what kind of investments we should be making that will derive maximum benefit while at the same time ensuring that we do not destroy the environment. that the challenge that we have. Of course there are certain things that need to be done away from the oceans. Our oceans consume a lot of plastics, particularly from developing countries.”

Addressing the conference, President Uhuru Kenyatta outlined plans to support the blue economy by highlighting key focus areas. Delegates are expected to come up with ideas to exploit the potential of oceans, seas, lakes and rivers with the aim of improving the lives of those in developing states.

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