Question Period Note: Blue Economy Strategy

• Canada’s three oceans, our vast coastline, and our diverse marine resources carry great opportunities for Canadians.
• Our government recognizes the importance of the oceans sector and I am committed to working with stakeholders from coast to coast to coast to promote economic opportunities for coastal communities while ensuring Canada’s oceans and their resources remain healthy for future generations.
• Our government is committed to developing a comprehensive blue economy strategy to outline Canada’s vision for our ocean’s sector and help guide future actions and investments.

• Developing a comprehensive blue economy strategy is a key mandate commitment for Fisheries and Oceans Canada. This priority was included in your mandate letter from the Prime Minister on December 13, 2019.
• The Department has been working with key federal partners, including Innovation, Science and Economic Development Canada (ISED), Transport Canada (TC), Natural Resources Canada (NRCan), and the Atlantic Canada Opportunities Agency (ACOA) in recent months to explore how the development of a blue economy strategy could be pursued.
• The concept of the blue economy is one that encourages better stewardship of our oceans through sustainable business practices, recognizing that the health of the ocean is directly linked to long-term economic growth and value creation.
• The blue economy (or “oceans economy”) refers to a diverse range of oceans-based sectors (e.g., commercial fisheries, aquaculture, marine transportation, offshore-oil and gas, shipbuilding, port and harbour construction, and marine tourism) that generate economic and social benefits for individuals, communities, and coastal nations around the world.
• The global blue economy is rapidly expanding and is creating significant opportunities for growth. As per a 2016 report by the Organization for Economic Cooperation and Development (OECD), global economic activities tied to the oceans is expected to double to over CAD $4 trillion by 2030. The blue economy has the potential to outperform the global economy as a whole, both in terms of value added and employment.
• In 2015, Canada’s ocean-based sectors contributed up to CAD 30.4 billion to the national economy (1.5 per cent of GDP) and approximately 325,000 jobs (1.8 per cent of national employment).
• With key assets such as: the longest coastline in the world, access to three oceans, diverse and highly-valued oceans resources, leading oceans research and marine conservation efforts, Canada is well-positioned to capitalize on the opportunities afforded by the growing blue economy.

Balancing Economic and Environmental Commitments
• The blue economy strategy will build on our government’s existing and ongoing work to advance oceans protection and our conservation objectives.
• The sustainability of our oceans resources remains paramount, and we are committed to balancing economic and environmental objectives as we work to grow Canada’s oceans economy.