Better understanding of the Ocean Economy.

1. TEACHER’S NAME: MAX GALARZASTUDENT’S NAME: NICOLE
NARVÁEZ
The Oceans Economy: Opportunities and Challenges
for Small Islands Developing States

2. INTRODUCTION
v The link between humans, oceans and seas has been fundamental to
keep a sustainable development for human civilization.
v
v
v They provide food and minerals, generate oxygen, absorb greenhouse
gases (GHG), serve as highways for human transport and also
embodies economic and trade activities.
v
v It is essential to create and regulate sustainable balance between the
utilization of marine resources and the protection of marine
ecosystems.

3. The present study seeks to contribute to a better
understanding of the oceans economy by:
üThe identification of the main trade
and development opportunities and
challenges in the ocean space.
üAn assessment of the role of the
Multilateral Trading System
(MTS) and relevant United
Nations (UN) rule-making bodies
in the development of an enabling
regulatory environment supportive
of the sustainable development of
Small Island Developing
States (SIDS).

4. JURISDICTION AND REGULATORY
FRAMEWORKS
vThe overarching framework agreement governing the management of the oceans is
provided by the 1982 United Nations Convention on the Law of the Sea
(UNCLOS).
v
vIt establishes a comprehensive framework for the use and development of the oceans,
e.g. The extent of various jurisdictional zones as territorial seas or archipelagic
waters.
v
vThere are a number of other global and regional agreements and declarations that
regulates goods and services that could affect or concern oceans and marine
resources.
v
vSo, many economic activities that take place in the oceans such as fisheries and sea
transport have been regulated through conventions and customary international law
for some time.

5. REFERENCES
United Nations Conference on Trade and Development and theCommonwealth
Secretariat. (2014). The Oceans Economy: Opportunities and Challenges for Small
Islands Developing States, with scientific annexes. United Nations Publications.

6. REFERENCES
United Nations Conference on Trade and Development and theCommonwealth
Secretariat. (2014). The Oceans Economy: Opportunities and Challenges for Small
Islands Developing States, with scientific annexes. United Nations Publications.