North Atlantic Fisheries Ministers recognise the potential of the blue economy in traditional and emerging maritime sectors to contribute to sustainable growth and the creation of new jobs. In order to realise the potential that our oceans offer, it will be important to intensify cooperation and current efforts in a number of areas. Sustainability must be a guiding principle when developing fisheries and maritime policy in order to preserve the ecosystems of our seas and oceans and the invaluable services they provide for current and future generations.

Mr Karmenu Vella, European Commissioner for the Environment, Maritime Affairs and Fisheries, hosted the 20th North Atlantic Fisheries Ministers Conference in Valetta, Malta, on 16 and 17 July 2015. Fisheries Ministers and senior representatives from Canada, the Faroe Islands, Greenland, Iceland, Norway and the Russian Federation participated in the Conference.

Ministers agreed that although the sustainable utilisation of living marine resources remains central to the blue economy, the North Atlantic holds great opportunities for growth also in other areas. Expanding and emerging maritime sectors such as aquaculture, marine biotechnology, offshore wind and ocean energy have the potential to give a significant boost to jobs and growth in North Atlantic economies. These sectors can help to address the growing demand for food, energy and medicine in the context of a growing global population, provided they are developed in a sustainable manner.

Blue growth will happen if the public sector sets the right conditions and incentives. Ministers concurred that efforts should be strengthened particularly in the following areas: i) science and research; ii) innovation and infrastructure development; iii) matching the skills of the workforce with the needs of the maritime economy; iv) marine planning, v) engagement of local communities and resource users and vi) effective ocean governance to provide a sound framework for sustainable development.

In order to seize these opportunities in a sustainable manner and ensure that the benefits can be maintained in the long term, it is essential to take steps to provide for the adequate protection of the marine environment. Marine planning, targeted research and sustainable use will strive to ensure that economic activity respects and maintains a healthy ocean environment. Ministers shared experiences on current approaches to fisheries and aquaculture management and maximising value in these as well as other emerging maritime activities. Sustainable use of living marine resources based on sound scientific advice was discussed.

Ocean Governance is a shared challenge and responsibility that calls for global principles, as well as regional and local implementation. Governments have an important role in providing a springboard for the blue economy and in ensuring the sustainable development of our marine sectors. Successful regulatory and planning practices already exist. Ministers expressed their intention to learn from each other and to cooperate to ensure the best possible management of marine resources and safeguard the marine environment. Ministers endorsed the need for scientific cooperation and knowledge sharing and they are determined to explore the scope for new partnerships in order to support blue growth in the North Atlantic.

The Russian Federation will host the 21st North Atlantic Fisheries Ministers Conference in 2016.