This archive report was first published on 20 May 2020.
On May 20, 2020, the United Nations Conference on Trade and Development (UNCTAD) released a report highlighting the challenges and prospects for recovery and resilience in the blue economy post-Covid-19 pandemic.
The blue economy, which accounts for about 3.5 percent to seven percent of the global GDP, has been severely impacted by the pandemic. Key sectors such as tourism and travel, maritime transport, fisheries, and seafood production have been heavily affected due to disruptions in supply chains, limited access to ports, and increased sanitary measures.
According to the report, it could take between ten months and two years for travel and coastal tourism to recover once the pandemic is over. To revive the blue economy, UNCTAD has proposed 12 action plans, including the minimisation of unnecessary controls and burdensome procedures associated with goods, and the enhancement of coordination between fish and seafood suppliers with transport, warehousing, and logistical services.
The agency also recommends that governments keep fighting against illegal fishing, rely on electronic monitoring and surveillance systems, and design and implement rescue packages for vulnerable populations in blue economy sectors and actors.
UNCTAD further suggests that countries phase out unsustainable public expenditure, including fish and fuel subsidies, and divert resources to alternative biodiversity-enhancing policies. Additionally, the agency recommends expediting public and private debt forgiveness, particularly for Small Islands Developing States (SIDS) and Least Developed Countries (LDCs).
