The OECS Blue Economy Strategy and Action Plan

OECS Member States recognize that the development of a Blue Economy offers significant opportunities to realize the region’s true development potential and to truly transform the lives and wellbeing of its people. However, responsible resource exploitation for more inclusive growth and sustainable development necessitates an equal focus on the social, economic, and environmental opportunities – recognized as the triple bottom line – while enhancing the resilience, viability, and diversity of the ecosystems that nurture these resources. The region has thus been involved in several recent initiatives towards attainment of a Blue Economy, within the framework of its overall development thrust, and now wishes to establish itself as an exemplar of Blue Economy development. This will be done within the context of a wider Green-Blue Economy (G-BE) Strategy and Action Plan, which has already received the formal endorsement of the OECS Council of Ministers for Environmental Sustainability (COMES) and has also benefited from the formulation of a G-BE Financing Strategy and Implementation Plan (SAP).

The primary purpose of the OECS Blue Economy Strategy is to position the OECS as a model Blue Economy region worthy of support, investment and emulation. However, elevating the OECS region’s Blue Economy agenda to a position that would distinguish it as a best practice model to be emulated requires a robust, well-coordinated effort that is mainstreamed into national and regional development policies, including making it more central to efforts to establish an OECS Economic Union. This is especially pertinent to the transboundary aspects of a Blue Economy.

Fortunately, for the OECS region, the Blue Economy strategy is being advanced on a solid platform of ongoing and implemented policies, projects, programs and achievements. A major boost in publicity, technical and financial support, investment, public understanding and embracement, policy commitment and implementation momentum is required to ensure the success of the Blue Economy initiative. The Blue Economy promotional strategy is thus expected to embrace the entire spectrum of this new approach and to support the overall OECS Development Strategy (ODS) implementation process within a cohesive approach.
The action plan calls for, inter alia, Member States and key private sector influencers to prioritize the OECS Blue Economy as the primary developmental initiative of the region and for the secure private sector ownership, leadership, action and investment

The Vision

In 2013, the OECS Authority sought to forge a common approach to ocean governance by agreeing to implement the Eastern Caribbean Regional Ocean Policy (ECROP) and its Strategic Action Plan (SAP) which provides a more responsible approach to utilizing the region’s marine waters and provides a basis for enhanced coordination and management of ocean resources within the Eastern Caribbean. The OECS Commission operates within the regional mandate of ECROP and has introduced improved governance structures to maintain the benefits and functions of marine ecosystems for the communities that are dependent upon them and for human society as a whole. ECROP was updated in 2020 to align with the 2030 Agenda for Sustainable Development Goals (SDG 2030) and OECS States have been challenged to make the paradigm shift from Small Island Developing States to Large Ocean States. The Blue Economy Strategy and Action Plan is thus guided by the Revised ECROP 2020 and its Strategic Action Plan (2020-2035).

Strategy for Sustainable Investment in the OECS Blue Economy

A Marketing Strategy for The Blue Economy has been developed to assist the OECS region to achieve economic prosperity, improve livelihoods, and foster
sustainability through impactful, responsible investment in the emerging Blue Economy.

The Marketing Strategy is designed to guide OECS Member States in their effort to attract plausible investment that supports their transition to a Blue Economy while providing potential investors with a solid understanding of the region’s prospects, requirements and enabling conditions for facilitating their investments. This strategic marketing plan includes a portfolio of twenty (25) proposed investment projects encompassing all six Members of the OECS Economic Union, and is a critical first step towards cementing the OECS Blue Economy development approach. The portfolio is expected to advance the OECS’ blue growth priority areas including the interconnected sectors of fisheries, shipping, tourism, and transportation; traditional livelihoods and local activities inclusive of artisanal fisheries, aquaculture inclusive of seamoss farming, wellness and recreational use; new opportunities in the emerging sectors of renewable energy and bioprospecting; and enhanced management of ecological vulnerability.

View the Draft BE Investment Portfolio at https://www.oecs.org/en/our-work/knowledge/library/ocean-governance/blue-economy-promotional-and-marketing-strategy-plan