The blue economy — a concept and framework for economic activity that recognizes and seeks to maximize the potential for economic growth, employment and diversification through the sustainable use of resources from the ocean — has vast economic potential for small states; however, they confront several unique international governance challenges in pursuing a marine-resource-based development framework; have few comparative lessons of good practice to draw on; and face several practical obstacles in taking the first steps to operationalize the blue economy, resulting in modest progress. Collective experience highlights six key priorities in operationalizing the blue economy. Small states can take several new initiatives, supported by regional and international development partners, to focus attention on and coalesce policy effort and resources.

  • Cyrus Rustomjee

    Cyrus Rustomjee is a senior fellow with CIGI’s Global Economy Program, where he focuses on the blue economy. Currently a managing director at Cetaworld Ltd., an independent consulting practice, Rustomjee has also served in key positions at the International Monetary Fund (IMF), the Commonwealth of Nations, the G20 and the government of his native South Africa.