ABSTRACT
This chapter discusses the realization of economic benefits from the oceans for small island developing states (SIDS) and small scale artisanal fishers which comprise the bulk of fishers in SIDS. It overviews the export of fish and fisheries products as a key sector for SIDS. The chapter explores the relevance of marine genetic resources as inputs for research and development and value addition. A review of ocean economy policies at national and regional levels shows that few strategies have actually been adopted and that many existing blue economy initiatives operate without an overall policy framework. Activities in areas beyond national jurisdiction have been mostly subject to general principles applicable to the high seas, the Area and relevant authorities under Convention on the Law of the Sea. The ocean or blue economy however constitutes a new frontier of development that most SIDS have yet to fully explore and harness, without undermining environmental sustainability.
