Indonesia Is Increasingly Intensively Raising Blue Economy Issues in the 2023 ASEAN Chair

JAKARTA – Indonesia and ASEAN countries share the same view of optimizing the role of the oceans as one of the sectors driving growth with the concept of the Blue Economy.

Deputy for International Economic Cooperation at the Coordinating Ministry for Economic Affairs Edi Prio Pambudi explained that in recognition of the importance of the Blue Economy for the region, ASEAN leaders agreed to the 38th ASEAN Summit meeting in 2021 to adopt the Blue Economy Declaration.

"This declaration highlights the commitment of member states to pave the way for sustainable and inclusive use of the sea and water resources", he said in a written statement as reported by the official website on Monday, March 6.

According to Edi, through Indonesia's Chair in ASEAN 2023, Indonesia will consistently promote regional stability and the center of global growth in the future, including the blue economy.

"For this reason, the 2023 ASEAN Indonesia Chair has raised the ASEAN Blue Economy framework as one of the top priorities in the economic sector", he said.

Edi explained that the framework aims to support sustainable economic development in the region and support sustainability initiatives.

He said, this framework will strengthen ASEAN's commitment to lead regional cooperation on the Blue Economy which focuses on value creation, inclusiveness and sustainability as the main elements.

"Given the strategic environment full of competing interests, it is important for ASEAN to remain open to external dynamics while maintaining its centrality and unity", he stressed.

For information, the oceans are estimated to have a value of 2.5 trillion US dollars and are projected to provide many economic opportunities.

Meanwhile, the market value of marine and coastal resources is also estimated to reach US$3 trillion per year or the equivalent of 5 percent of total global GDP.

Meanwhile, the development of the ASEAN Blue Economy Framework is aligned with the ASEAN Outlook on the Indo-Pacific (AOIP) which was agreed in 2019.

AOIP has provided a platform at the regional level to strengthen cooperation in the areas of maritime and sustainable development, while also navigating ASEAN's global position amidst geopolitical waves in the Indo-Pacific.