Bali, Indonesia :  The Governement of Indonesia is honoured to host “The Third Coral Triangle Regional Business Forum”, March 24-26 at the Grand Hyatt, Nusa Dua, Bali, together with the annual ‘Coral Triangle Initiatives on Coral Reefs, Fisheries and Food Securities (CTI-CFF)’.

The Minister of Marine Affairs and Fisheries, Sharif C. Sutardjo, in opening this years’ Forum, said business activity in the Coral Triangle is projected to increase substantially each year forward.

Total export value from the Coral Triangle – whose countries include Indonesia, Malaysia, Papua New Guinea, Philippines, Solomon Island, and Timor Leste – reached US$ 4.5 billion in 2011, while through the tourism sector the Triangle could earn as much as US$ 12 billion every year.

“In the regional maritime sector, we together hope to witness the business sectors’ contribution to sustainable development through innovative and creative business solutions, which will not be only profitable, but it will also be environmentally sustainable,” Sharif stated.

Given the strong potential of the region, a strategic approach is required to maintain, develop, and consolidate economic sustainability and growth. A wide range of region-related industries, such as fishery and seafood companies, shipbuilding and shipping industries, and maritime tourism and travel operators are attending the Forum.

“In the Coral Triangle, all of those industries will share information about the innovations and the concrete moves needed to decrease the negative impact to the marine environment by adopting more responsible business applications,” Sharif said.

He further stated that for the Coral Triangle countries, particularly Indonesia, most of whose area consists of sea, sustainable development through the ‘blue economy’ approach will be mandatory. “By implementing this approach, it will drive us to manage the natural resources efficiently through the support of creativity and technological innovation.

“This concept also teaches us how to create zero waste product, as well as to address the food threat and the fossil fuel crisis. Additionally, this concept opens up a wide range of employment, helping cut the poverty cycle and convert the region to prosperity, scarcity into abundance,” he explained.

Sharif underlined that ‘blue economy’ implementation can be adopted as long as there is a constructive collaboration among the stakeholders. Therefore, it requires partnership support from the communities, private sectors, academics, researchers, development experts, and national and international institutions.

Together, they will able to drive and oversee transformation to sustainable marine resource utilization as well as enhance the welfare of the coastal communities. The Forum also provides a larger partnership review and opportunities among public, private, NGOs, local communities, and government sectors to enhance marine resource management.

“I am truly convinced that this partnership we’re adopting will succeed in implementing a ‘blue economy’ in the Coral Triangle region, and also prove that by applying a blue economy, we can create prosperity among communities and at the same time, a healthy marine ecosystem,” he emphasized.

Blue Investment

The Regional Business Forum was held in Manila in 2010, and Kuala Lumpur in 2011. The Forum paves the way towards ‘green’ investment implementation, or so-called ‘blue investment’, in the Coral Triangle region, especially in socio-economic development-oriented multi-sector partnership development.

While during the two previous events the “green economy in a blue world” was the main topic, this event will see it presenting a number of business opportunities where the business sector will respond the increase in demand of environmentally sustainable products and services.

“This pattern is referred to the ‘blue economy’ concept as initiated by Gunter Pauli in “Zero Emission Research and Initiatives”,” Sharif explained.

He added that the Government of Indonesia will host the Asia Pacific Economic Cooperation Forum (APEC), on November in Bali. In that Forum, Indonesia is expected to show its leadership in promoting the joint commitment to sustainable marine resource management and utilization in the Asia Pasific region.

“Through trade agreements and regional policies, member countries are expected to be able to drive and support the ‘blue economy’ concept implementation in the Asia Pasific region,” concluded Sharif.