The ASEAN Blue Economy Forum (ABEF) 2023 was successfully held from 2 to 4 July in Tanjung Pandan, Bangka Belitung Islands. The meeting discussed the importance of the blue economy as one of ASEAN’s economic cooperation priorities.
The ASEAN Blue Economy Forum 2023 is a multi-stakeholder and multi-sectoral forum on the blue economy in the Southeast Asian region. In other words, the ASEAN Blue Economy Forum serves as a forum for collaboration and an effort of ASEAN members to support the implementation of the blue economy. So, what is the blue economy?
The blue economy is an effort to optimize economic growth by utilizing marine resources inclusively and sustainably. In a way, the blue economy has great potential in the development of ASEAN.
More than 66 percent of the area in the Southeast Asian region is dominated by water. The seas in ASEAN are predicted to contribute 2.5 percent of all the oceans in the world.
Functions and Objectives of Implementing the Blue Economy
In ASEAN Chairmanship, Indonesia is committed to implementing the ASEAN Blue Economy Framework as one of the priority economic deliverables. The reason is simple: the blue economy has great potential to become the "engine" of ASEAN development.
The blue economy can be used to increase the prosperity and welfare of the community, especially in ASEAN countries with lower middle-income status. Several ASEAN countries included in the category of lower-middle-income countries are Cambodia, Laos, the Philippines, and Vietnam.
Meanwhile, Indonesia, Thailand, and Malaysia are still “trapped” in the middle-income status in the last 13 years.
Looking at the countries' economic level, the blue economy implementation can provide an opportunity in driving GDP growth, while at the same time supporting the achievement of the Sustainable Development Goals (SDGs) in ASEAN.
Series of ASEAN Blue Economy Forum 2023
The ASEAN Blue Economy Forum 2023 series of activities started on 2 July. To achieve the goals and vision of Indonesia 2045, the Indonesian government, through National Development Planning Agency (Bappenas) has launched the Indonesia Blue Economy Roadmap 2023-2045.
Indonesia's blue economy roadmap has determined a diversified and sustainable maritime economic path. It aims to ensure the health and resilience of marine ecosystems. It also serves as a guide for the blue economy implementation to enhance economic transformation towards Indonesia's 2045 vision and provide guidance for realizing a sustainable marine economy.
The application of the blue economy is expected to become a new source of growth for Indonesia. Thus, it can create socio-economic welfare, ensure healthy marine areas, and strengthen resilience for the nation's next generation.
Photo: Shutterstock/Avigator Fortuner